Nowell Agency, Inc. > Insurance News > Importance of Preparing a Will

Importance of Preparing a Will

In light of the recent global pandemic, preparing a will in 2021 has been at the top of many to-do lists. We are more aware than ever that one of the most important decisions we can make is to create a will and trust that outlines our final wishes. This can be difficult, but it’s worth it to know that your family and friends are taken care of in the case of an unexpected event. There are many misconceptions about wills – some people think they’re only useful for the wealthy or celebrities. Although this may be true in some cases, without a will you risk everything being left to someone else’s discretion rather than yours.

The preparation of a will isn’t an “anyone can do it project” because there are so many legal aspects to consider that are involved with property rights, taxes, and assets. When it comes down to your inheritance, if you want peace of mind knowing everything is taken care of, then make sure you consult legal counsel about creating a will. Many of the best insurance agencies offer will preparation services along with financial counseling to ensure you have the best life insurance plans, long term care insurance, and any other unique insurance needs you may have to set your future (and that of your loved ones) up for success! After all, it’s crucial to protect your assets and ensure financial restitution for any unexpected events so that you have something left to give your family.what to include in a will

Will Preparation Tips 2021

The benefits of making a will with a professional is that you’ll have peace of mind knowing that everything is accounted for. Before you meet with your financial advisor or legal counsel, you’ll want to take a few steps that will make the process of preparing a will easier.

  1. Formulate a plan for a will with your insurance provider or with the Nowell Agency. To best protect your future and assets, you may want to consider investing in a life insurance policy, long term care insurance, guaranteed income for life, and estate planning services.
  2. Set up a life insurance trust. The purpose of this trust is to protect your life insurance proceeds from hefty taxation by the IRS (which occurs if your life insurance is included in your estate rather than dispensed through a trust).
  3. Create an inventory of your assets, including your investments, retirement savings, insurance policies, real estate and business interests.
  4. Prepare a list of beneficiaries with designations as to who gets what. Be as specific as possible with both the person’s full name and their relationship to you, as well as the items they will receive. Also, name an executor to carry out your wishes.
  5. Ensure that the beneficiaries listed in your will also match the beneficiaries you name on your insurance policy, 401(k), and any other retirement accounts.
  6. Meet with your will preparation professional and make it all official!
  7. Update your will if any major life changes occur or every few years to be sure it’s current and iron-clad!

Do I Need a Will or Trust?

You really don’t want your family to find out how an estate is settled if there is no will! It’s a stressful, emotional, and time-consuming situation during an already difficult time. Instead, reap the benefits of preparing a will and protect your loved ones with comprehensive financial planning services from the experts at Nowell Agency. We’ll help you with everything you need to know about the future, from A to Z, and leave you (and your loved ones) with priceless peace of mind!why write a will


The Nowell Agency is committed to providing you with fast and efficient service. If you would like a quote on any of our products please complete the short form below and click submit.

Get A Quote Form



    The Nowell Agency has been my primary agent for many years and they are attentive, well-staffed, and easy to talk to. Their agency has helped me through state to state moves and career change and kept my assets covered.

    James G.

    My very first insurance experience was when I bought my first house and I called the Nowell agency for a quote. I had no idea what I needed or how much and they were so very kind and knowledgeable and explained everything to me in detail which I so much appreciated. That has been 4 years ago and im still a customer never plan to leave.

    Ashleigh D.

    I have been very pleased with the quick and professional service by the Nowell agency. My agent was very efficient at locating a policy that met my needs and budget. Thank you to Kristy and the Nowell agency for providing me with fantastic customer service. I highly recommend this agency. You will not be disappointed.

    Tripp W.


    cheap cyber insurance near me

    Cybersecurity Tips for Online Shopping 


    December 08, 2022

    It’s the most wonderful time of the year to shop for your loved ones and the ever-increasing trend is online shopping. However, it’s important to remember that online holiday shopping can also expose your data to potential cyber threats. Experian reports that 43% of identity thefts occur while holiday shopping online. Thankfully, there are steps […]

    6 Tips for Saving Money on Teen Auto Insurance 


    November 19, 2022

    As the teenage years approach, parents across Amer...

    How to Prepare for a Recession: 5 Tips for Small Businesses


    November 19, 2022

    The U.S. annual inflation rate just reached a 40-y...