What Can You Do With A Will?

November 06, 2020 by Dan Green

Your Last Will and Testament can be as simple as you want.

If you’re single with no children or pets, you can use a will to pass your money on to parents or siblings; or, to give your jewelry to charity, as examples.

This is the most basic use of a Last Will and Testament. It’s protection for your money and your stuff.

For people with children or pets, wills can get more specific.

A last will and testament can be used to earmark money toward college for kids; to set up a trust to protect your household wealth; and, to ensure that children are placed with a guardian of your choice.

In your will, you can also appoint a new owner for your pet and optionally leave cash to that person for your pet’s care.

Without a will, your pet could be taken from your home, and potentially be euthanized by the state. This is not a good outcome.

There are other things you can do with a will, too:

  • Donate a collection of musical instruments to a school
  • Assign a freelance business to a partner or a relative
  • Create an heir for your social media accounts

Your will can also specify whether your remains should be buried or cremated, and how you’d like your funeral to be.

Remember: your will is flexible. You can use it how you want. The most important part, though, is having one.

Without a will, you’re at the mercy of your government.

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