Do you have a will? Congratulations if you do. And if you don’t, it is extremely important that you set time aside to create and sign one. Without a will, it would be up to the state of New Jersey to determine what happens to your hard-earned assets. And this can put your legacy and loved ones’ future at risk.
Once you have created a will, one of the most important decisions you will need to make is whether to share it with your heirs or not. Basically, this is your decision to make. Before sharing your will with your family, it is important that you weigh the merits and demerits of doing so.
Why you may want to put off sharing your will
How you choose to distribute your assets upon your demise is one of the most personal decisions you will ever make. In fact, you should never feel pressured to leave your assets for anyone. Sharing your will with your family could lead to problems, especially if someone is not pleased with your decision.
It is not unusual for family members, those who are included in the will, as well as those who are excluded, to lobby for changes, especially if they are not happy with what you have allotted to them or the roles you have assigned in your will. If you do not want to witness these dramas, you may consider keeping things secret.
Why you might want to share your will
Your heirs could fight after your demise if they don’t discover the things they don’t like about your will until then. Being around for these disputes can help you all work out a solution and prevent costly disputes down the road.
Will creation is one of the most important estate planning steps you can ever take. Find out how you can create a will that will safeguard your wishes and interests.