Why Do You Need a Will?

   According to the global analytics firm Gallup, only about 44% of Americans have created a will. This finding may not surprise you. After all, no one wants to be reminded of their mortality or dwell on what might happen upon their death, so writing a last will and testament is seldom prioritized on the to-do list of a Millennial or Gen Xer. What may surprise you, though, is the statistic cited by personal finance website The Balance: “According to a study conducted by US Legal Wills, approximately 65 percent of those 65 and above had a will, while less than 15 percent of those 18-24 reported having a will.”1,2

   “The plans of the diligent lead surely to abundance.”  Proverbs 21:5. 

   A will is an instrument of power. By creating one, you gain control over the distribution of your assets.  If you die without one, the state decides what becomes of your property, with no regard to your priorities.

   A will is a legal document by which an individual or a couple (known as “testator”) identifies their wishes regarding the distribution of their assets after death. A will can typically be broken down into four parts:

•  Executors:  Most wills begin by naming an executor. Executors are responsible for carrying out the wishes outlined in a will. This involves assessing the value of the estate ...

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