DALLAS, Jan. 28, 2014 /PRNewswire/ -- LegalShield, one of the nation's leading providers of legal safeguards for individuals, families and small businesses, announced today that, in an effort to encourage Americans to create a Will, Tuesday, January 28th will be known as National Will Day.
To commemorate the day, LegalShield will be launching a dedicated page of its website (www.legalshield.com/willday) to provide resources for all individuals interested in better understanding the complexities and necessities of creating a Will. These resources include an infographic with quick and easy steps individuals can take to get the process started, and information on the benefits of estate planning. In addition to these resources available to everyone, LegalShield members will have access to a recorded webinar discussion on creating a Will and a Will questionnaire with key considerations to consider.
"Only 50 percent of Americans currently have a Will," said Rip Mason, CEO of LegalShield. "It's a troubling statistic and our attorneys have seen the stress felt by next-of-kin when their loved ones pass without a plan for their estate in place. We're creating this day to help raise awareness amongst our members and others about the dire need to have a Will. We don't like to think about the day we'll no longer be alive, but for your family's sake it's crucial to be prepared."
With a LegalShield legal plan, members are entitled to have a standard last Will and Testament prepared by a Provider Law Firm. The Provider Law Firm will also provide a testamentary trust for a minor child if it is included in the Will, conduct annual reviews and make any necessary changes to the Will each membership year. In 2013, Provider Law Firms prepared 25,000 Wills for LegalShield members.
LegalShield recommends several cost-effective steps people can take to get started on a Will. Some of these steps include the following:
- Make a list of assets and debts: After doing so, determine what assets you would use to pay off any debts.
- Gather the appropriate documentation: Compile the data used to create your asset list, i.e. copies of insurance policies, 401ks and retirement plans, bank accounts, real estate deeds, etc. These are all important documents that will be used in Will preparation.
- Divide up your assets: Make a list of the individuals you want to inherit your assets and how these assets will be divided between them.
- Decide who's in charge of your Will: Select a first and second choice for the executor of your Will, the person who will be charged with the duty to administer your estate.
- Select guardians for your children: protect your minor children by selecting a first and second choice for guardian.
- Choose the right attorney: When selecting an attorney, choose someone who is knowledgeable and skilled at estate planning, with a good reputation in your state and the highest ethical standards. The LegalShield Provider Law Firms are AV rated, which is the highest rating a firm can get.
- Come prepared with questions: Before meeting with an attorney, take the time to make a list of specific questions you have about your Will.
"Too many people die without a last Will and Testament, leaving the distribution of their assets up to the courts. It could mean that loved ones aren't entitled to the assets they deserve," said Rip Mason. "By creating National Will Day and raising awareness about the need for a Will, LegalShield wants to ensure that the families of those who pass receive their fair due. Having a legal service plan is one of the most affordable ways to obtain a quality Will for your estate."
For more information about LegalShield's comprehensive legal plans, visit: https://www.legalshield.com/.
LegalShield is one of the nation's leading providers of legal safeguards for individuals, families and small businesses. LegalShield also offers one of the industry's most affordable identity theft plans. Members receive identity theft protection for the entire family for the cost most competitors charge to cover a single individual. LegalShield legal plans cover more than 1.4 million families and 3.7 million lives across North America. More than 34,000 companies offer the LegalShield plan to their employees as a voluntary benefit. For as low as $20 per month, LegalShield members get access to attorneys who are experienced in the areas of law that most impact families and small businesses. Unlike other legal plans or do-it-yourself websites, LegalShield has dedicated law firms in 49 states and four provinces in Canada that members can call for help without having to worry about high hourly rates. The attorneys at these firms have an average of 19 years of experience in such areas as family matters, estate planning, financial and business issues, consumer protection, tax, real estate, benefits disputes and auto/driving issues. In 2013 alone, LegalShield firms received more than 1.8 million calls from members. For more information, visit www.legalshield.com or call 800-654-7757.