Written by: JR Robinson

Writing a will is an essential part of life planning, yet it's often overlooked or postponed due to misconceptions or the discomfort of contemplating one's mortality. However, having a will can save your loved ones from unnecessary stress and confusion in the event of your passing. Here are some key points to consider when deciding when to write a will.

Different Life Stages for Writing a Will

1. Young Adulthood (18-24 years old): As soon as you become a legal adult, you should consider drafting a will. This is especially true if you've started working and accumulating assets. 

2. Marriage: If you've found the love of your life and are planning to build a life together, it's important to update your will. Marriage often revokes previously executed wills, so updating your will ensures your spouse is included.

3. Parenthood: When you add a child to your family, it's crucial to update your will. This allows you to appoint a guardian for your child should both parents pass away.

4. Later Life Stages: As your family expands to include grandchildren, you may want to update your will to include them as beneficiaries.

5. Changes in Assets: If you come into a windfall of money or your financial situation significantly changes, it's a good time to review and possibly update your will.

Importance of Having a Will

Having a will is important for several reasons:

1. Control Over Asset Distribution: A will allows you to direct where and to whom your estate will go after your death. Without a will, your estate would be distributed according to your state’s law.

2. Preventing Disputes: A clear expression of your wishes in a will helps prevent costly, time-consuming disputes over the distribution of your assets.

3. Choosing an Executor: Your will is the only way to choose the person to administer your estate and distribute it according to your instructions.

4. Reducing Estate Taxes: For larger estates, a well-planned will can help reduce estate taxes.

Common Misconceptions About Wills

1. I'm too young to need a will: Regardless of age, having a will is important. Even young adults should consider drafting a will to spare their family from a complicated probate process.

2. My family knows my wishes, so I don't need a will: Even if your family is aware of your wishes, having a will ensures that your assets are distributed according to your instructions.

3. I don't own a lot, so I don't need a will: Even if you don't have substantial assets, a will can still be beneficial. It allows you to decide who will receive your belongings and can simplify the legal process for your loved ones.

4. Wills are a one-time thing: Wills can and should be updated throughout your life to reflect changes in your circumstances.

It's never too early or too late to write a will. It's a crucial step in ensuring your wishes are respected and your loved ones are taken care of after your passing. If you need assistance in drafting a will, consider seeking legal advice to ensure your will is valid and comprehensive.

Mason Law, PC Can Help

Mason Law, PC, located in Memphis, Tennessee, offers a range of services that can assist you with the process of writing a will. The firm specializes in probate, estate planning, trust administration, and business planning services. 

The founder of Mason Law, PC, Attorney Patrick B. Mason, focuses his practice within the areas of estate planning, probate litigation, and business planning. With his expertise and experience, he can guide you through the process of drafting a will that accurately reflects your wishes and ensures your assets are distributed according to your instructions.

Mason Law, PC is dedicated to promoting the interests of every client they represent. They take the time to learn about your individual needs and goals so they can offer advice tailored to your situation. This personalized approach ensures that your will is comprehensive and covers all necessary aspects of your estate.

In addition to drafting a will, Mason Law, PC can also assist with estate and trust administration services. This can be particularly helpful in relieving the burden of dealing with legal paperwork and court regulations following the death of a loved one.

Mason Law, PC can provide valuable assistance in drafting a will, regardless of your life stage or the complexity of your estate. Their expertise in estate planning and probate litigation, combined with their commitment to understanding and promoting their clients' interests, makes them a reliable choice for your legal needs.