It is important for both David and Cheryl to draft wills as soon as possible because a will is a legal document that outlines how a person’s assets will be distributed after they pass away. Without a will, the state will determine how the assets are distributed according to state laws, which may not align with the Allens’ wishes.
A will is also a good way to prevent conflicts between family members and other beneficiaries. This allows the Allens of Clearwater to specify their wishes regarding who will inherit what assets. In the event of either parent’s death, they can appoint a guardian to their children.
A will is a good way to reduce the financial burden of surviving relatives during difficult times. Without a will, the probate process, which is the legal process of distributing a person’s assets after their death, can be lengthy and complex, causing additional stress for the surviving family members.
Summary: It is crucial for David and Cheryl that they draft wills quickly to make sure their assets are divided according to their wishes. This avoids potential conflicts between beneficiaries and reduces the burden on their surviving relatives.