I Don’t Have a Lot of Money. Do I Really Need a Will?

Many people assume that wills are only necessary for the wealthy, but the truth is that a will is important for almost everyone. It is not just about money or property. Having a will is about making sure your wishes are followed, protecting the people and pets you love, and giving your family the comfort of knowing exactly what you wanted.

Below are some of the ways a will can help you and those you care about.

Caring for a Minor Child

If you have a child under 18, a will allows you to name the person you trust to raise your child if something happens to you. Without a will, a court will appoint a guardian, and that decision may not reflect your preferences. You can create a trust to provide more structure and flexibility, ensuring that the assets you leave to your children are managed for them until they are old enough to manage them themselves. By doing this, you can be sure your child will be cared for both personally and financially.

Providing for Pets

Pets are family, but under the law, they are considered property. Without instructions, there is no guarantee of who will care for them. In your will, you can name someone to act as their caregiver and even leave funds to cover their food, veterinary visits, and other needs. This step ensures your pets continue to receive the love and care they deserve.

Deciding What Happens to Your Belongings and Assets

Even a modest estate can include items with both financial and sentimental value. Jewelry, family heirlooms, furniture, and savings accounts can become sources of uncertainty without clear instructions. State laws distribute property according to a fixed formula that might not reflect your wishes. A will lets you decide who should receive your belongings, so your loved ones are not left guessing.

Choosing Someone You Trust to Handle Your Affairs

After a death, there are practical matters that must be addressed. Bills need to be paid, accounts closed, property transferred, and sometimes taxes resolved. The person responsible for these tasks is known as the executor or personal representative. Through your will, you can choose the person you trust most to handle these responsibilities. Without one, the court makes that decision for you, and it may not be the person you would have chosen.

Planning for Unexpected Assets

An estate is often larger than it appears. Families may find a forgotten savings account, a retirement plan, or a life insurance policy. Property can be worth more than expected, and sometimes an estate may receive funds from a legal claim or settlement. All of these assets become part of the estate. Without a will, the law determines who receives them. With a will, you decide who benefits.

Adding Personal Wishes

A will can express more than financial decisions. It can also include personal instructions. Many people use it to guide funeral or memorial plans, helping loved ones avoid uncertainty during a difficult time. Others include directions about digital accounts or social media. Life changes, and a will can be updated whenever needed to reflect new relationships, family members, or charitable causes.

A will is not about wealth. It is about responsibility, care, and peace of mind.

How Senior Solutions Can Help

Senior Solutions, Attorneys at Law, is an Estate Planning and Elder Law firm serving the Greater Boston, Massachusetts area since 2001. We are ready to help you with Medicaid Planning, Estate Planning, Probate, Guardianship & Conservatorships, Special Needs Trusts, and Fiduciary Services. We are here to help. Please call our office at 617-489-5900 or schedule a brief consultation (offered to new clients) by clicking the button below:

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