Working with a will law firms Memphis, TN, families depend on will be critical. While many might put off the process of developing a will for another day or make excuses as to why they don’t need one, the reality is that many should not hesitate to take action. At Patterson Bray, we can assist by making the process as straightforward and pain-free as possible. This will ensure that your assets are protected and are distributed in the way that you intended. When it comes to writing a will, several myths may deter people from the process that you should be aware of:
Myth #1 Writing a Will is Too Expensive
One of the biggest fallacies regarding will writing that often deters people is the expense taken on when working with a lawyer. While lawyers do charge a fee, in the long run, this cost can far outweigh the risks of either passing away without a will in place or having a will that is not a valid document. A lawyer will consider state and federal taxes and work closely with you to mitigate the assets that will need to pass through probate. This can help ensure that all that you have worked so hard to attain during your lifetime is distributed in the way you would like.
Myth #2 I Wouldn’t Know Where to Start
Many may avoid developing a will because they are unsure of where to start. This is where a lawyer can come in. Our Memphis, TN, will law firm will work closely with you to listen to your needs, review your specific situation, and determine the most appropriate way to get started with mapping out your wishes.
Myth #3 I’m Too Young
It’s not uncommon for people to believe that a will should be developed when you reach a certain age or fall chronically ill. While this is certainly necessary, even young and healthy people should develop a will mapping out their wishes. Be aware that once you reach 18, you may have the ability to write a will. However, you will want to consider that even the younger population is not invincible. A will can provide the family with a direction for moving forward with your final wishes if you pass away tragically and unexpectedly.
Myth #4 I Can Save Money and Do it On My Own
There are a variety of online will generators that offer a less expensive way of writing a will. However, it’s critical to know that this is not recommended for several reasons. In the long run, the money you save could cost you to lose a significant amount of money, and in some cases, the will could even be invalid.
Myth #5 A Will is Permanent
It’s a common fallacy that you no longer have to revisit the document once you write a will. Be aware that a will is not permanent. As things in a person’s life change, so should their will. A will can be changed at any time and should be updated to reflect changes in circumstances such as the birth of a child, marriage, divorce, a change in assets, and more.
To learn more about writing a will and how our team at Patterson Bray can help you, contact our Memphis, Tennessee, will law firm to get started.