Do I need a Will?

When is it time to draft a will?

Planning for the future is important, and in facing the unpredictability of life, you may find yourself with questions surrounding wills. A will is a legal document that designates where your property will go after you pass, and who will raise your children if they are still minors. A will can also name a legal representative or power of attorney that would handle your affairs if you were incapable.

So, when is the right time to draft a will? When you have minor children, it is crucial to have a written will. This will name the person you want to raise your children should something happen to you. It’s good to discuss guardianship with whoever you’re naming to ensure they are comfortable with this responsibility. It is also important to name a backup guardian as a precaution. If you have assets like a home, investments, or other items of value and it matters to you where they go when you die, it is also important to have a will. If you don’t have children or major assets yet, you could likely wait, unless you have specific wishes about where your property goes should something occur. Without a will, your property would be passed on to your parents or siblings.

In Wisconsin a will is legal if it is in writing, signed and dated, and signed by at least two witnesses. You can write a will yourself, though some matters can be very complex. It’s best to consult an attorney and ensure that all your wishes are properly expressed.

You should keep your will in a place where it’s safe from potential theft or damage. Often, for safekeeping, you should deposit your will with the register in probate for your county. If you have a personal representative, it’s good to give them a signed copy—especially if you have preferences on your funeral in your will.

If you think it’s time to draft a will, reach out to an attorney to begin the process.