Richmond Times discusses the answer to this imperative question in a recent article regarding attorneys experiencing a surge in requests for wills and other estate planning matters as a result of COVID-19.
Legal professionals say definitely yes to make sure your wishes are honored for how your money is distributed or whether you want to be placed on a ventilator.
Wills spell out in detail who gets your property and other assets. Sometimes for young adults with minor children, wills might dictate who would serve as a guardian or how the children’s finances would be handled.
If someone dies without a will, generally that person’s property will go to the closest relative, starting with a spouse and then children. If single, the property and other assets could go to siblings or other relatives.
Advance medical directives or a health care power of attorney allow you to appoint someone to follow your decision on medical issues.