December 10, 2024 / Press
Elizabeth Acevedo Discusses the Importance of Preparing a Will in Barron’s
Elizabeth Acevedo recently spoke to Barron’s about the importance of preparing a will to avoid burdening heirs and loved ones with further grief. She explains that in some states, spouses are entitled to community property, meaning that if an individual dies without a will, their spouse will need to equally divide the assets of any separate property with their children. If the deceased spouse does not have children, their surviving spouse is entitled to half of the separate property, while the remainder may go to the deceased spouse’s family.
Beth goes on to emphasize the importance of wills for individuals with children who are still minors – if a deceased parent does not leave behind a will, family members may petition probate court to act as guardians, which could lead to infighting among family members seeking custody.
“You’re leaving it to other people to make the decision for you, and local law to decide who will ultimately then raise your children,” she tells Barron’s.
Beth assures readers that the process of creating a will does not have to be complicated – in fact, it can be as simple as writing down the names of the individuals you want to receive your assets.
“I have probated a Post-it note before as a will because it met all of the requirements. It was in the decedent’s handwriting. It was dated and signed,” she says. “This doesn’t have to be an overwhelming process. If nothing else, take the time to literally write it down on a piece of paper and put that paper somewhere safe.”