Add this to the list of morbid things you probably should be thinking about: What will happen to your pet after you die? We spoke with estate lawyer Candace Waters on City Cast Salt Lake about why you should write a will. Even if it’s on a napkin.
What is an estate?
“People hear ‘an estate’ and they think you have to be a millionaire to have an estate. That's not true. An estate is just anything you own at the time of death. That includes furniture, jewelry, clothes, cars, things that most people have. When we talk about estate planning, what we're saying is we want to put something in writing as to who you want to get your stuff. No matter how great or small that is, right? As long as you own anything, you technically have an estate.”
What will happen to my stuff if I don’t make a will?
“The state has put laws into place as to what will happen to your things. They try to make it consistent with what most people would want. Generally, most people would desire [their stuff] to go to their wife or their husband or their partner. If those people aren't alive, then it goes to children next, and so on and so forth. So if you die without a will, you're locked into whatever that statute says as far as here's the order it's gonna go in. That's fine if that aligns with your wishes, but if it doesn't, then that's not a great situation.”
OK, how do I make a will?
“You could go through an online program, you can meet with your own personal attorney, or you could do it all by yourself. Technically you could make a will by just writing one saying, here's my name, here's where I live, here's my stuff, here's my family, here's where I want it to all go, and get it signed. (But it has to be in your handwriting.) And that would be a valid will. However, we do value the idea that a will should be done with some degree of formality, essentially to make sure that what the person is doing is really what they want.”
Listen to the full episode below 👇
