With the COVID-19 pandemic on everyone's minds, we give our mortality a bit more thought than usual.
I already know someone who knows someone who died after falling victim to COVID-19. It's likely that I'll eventually know someone personally who's died from it.
When death looms, it works on its own timeline. Sometimes there's time to tie things up, to get your affairs in order. Sometimes there's barely enough time to get the big rocks in place.
Other times, there no time at all. You have done what you have done.
Why a will is important
A will gives your surviving loved ones instructions as to what happens to your stuff, and who you entrust with particular roles. Some of the biggies:
- Who gets your money and belongings, and in what percentages
- What charities you want to support with a donation
- Who manages the affairs of your estate (the executor)
- Who takes care of dependent children
- Who takes care of pets
- How your digital assets are maintained (or destroyed)
- Funeral/cremation arrangements
Without a will (or other governing structure like a trust or foundation), these instructions will default to standards prescribed by the state. These standards may be at odds with what you would otherwise want.
Is a will best for you?
A will may be enough to express your wishes, especially if your estate (the sum total of everything you've acquired during your life at the time of your death) isn't complicated or extensive.
Other times, there may be the need for more involved structures to set your next generation off on the right foot.
No one can answer these questions except you, and it's up to you to seek out counsel to arrive at your estate planning solution.
I'm not here to sell you on any particular solution. I will do a couple of things:
- Recommend that you think seriously about getting estate planning in order (which can involve a will), and
- Show you a free service that can give you a document that includes all of the instructions I listed above.
FreeWill.com is a free will service
I happened upon FreeWill.com as we were updating our will. The last time we had one drawn up was a decade ago, and our situation has changed some since then.
The will creation process took twenty minutes. The interface is incredibly clean and simple, and the questionnaire-style entry of the information is very well-organized.
FreeWill.com is offered for free to everyone and is supported by nonprofit organizations. As I was creating the will, I was asked twice about providing for charitable giving in my will. It wasn't over-the-top pushy, but it was obviously fairly effective, as they boast of the 100,000+ wills created, $1.3 billion was committed to charity!
Before the will is in force, the will needs to be signed in the presence of witnesses. There is the option at the end of the questionnaire to add a self-proving affidavit to the will, which requires all of the signing and witnessing to be done in the presence of a notary public. (This makes it easier on survivors.)
Set your mind at ease
Getting a will done takes one burden off of your shoulders in uncertain times like these.
FreeWill.com can draft one up for you easily, and if it works for you, you can't beat the price.
Visit Mighty Bargain Hunter for more articles on recognizing life's good deals!
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