Karl Eggerss was on CBS discussing reasons to have a will. There are many reasons to have a will, but Karl gives 3 important ones.
Sharon Ko: Whatever your age or circumstance, here are the reasons why you should have a will. First, this legal document puts you 100% in control.
Karl Eggerss: After your death, you’re able to still decide how your estate is distributed. Whether it’s family, friends, you get to decide, and if you don’t have a will, you’re leaving it to a judge to decide that for you.
Sharon Ko: That could mean a long, drawn out process for your loved ones.
Karl Eggerss: Your will also enables you to really lower the chances of fighting between people because you can put no contest clauses in there and basically it says that if somebody contests the will, they’re out of there.
Karl Eggerss: Third thing would be, who’s going to take care of your kids? Again, do you want to leave it to a judge to decide who? It may be a family member the judge wants to leave the kids to, when you may want a friend.
Sharon Ko: If you haven’t gotten around to making a will, you’re not alone. 45% of people 55 and up do not have one. You don’t necessarily need an attorney to draw one up. There are online will writing services and we’ve got options for you on kens5.com.