Reasons You Need to Make a Will
Do you know you can create your will online? Most people haven’t made a will because they are afraid of thinking about death. For most young and healthy people, making a will is the last thing on their minds. A last will is a legal document that leaves instructions on what happens to your assets and property after you die. For those with children, especially minors, it specifies who is going to raise them.
When you die without a will, the government makes one for you. It gets to decide for you who gets what. Having a will is one of the best things you could do for your family and yourself, and here are a few reasons.
Decide How to Distribute Your Wealth
As mentioned, a will leaves behind instructions on what happens after you die. Writing a will lets you decide how you want your wealth shared among family and friends. In the absence of one, generic state rules apply. They might not cater to your last wishes and may exclude people not related to you. You get to leave your property and earthly belongings to people of your choice.
Protect Your Children
No parent wants to leave their children unattended for especially if they are minors. When you write one, you appoint a legal guardian for your children in the event of your death. Dying without one leaves your children in the hands of the state. The court may decide to leave them in the care of a family member or appoint a state guardian.
Make It Easier For Your Family
Losing a loved one is a traumatic experience. Writing a will makes the experience less horrid. Leaving instructions for your last wishes saves the family from stress and potential disputes. We have often heard the stories of family feuds over wealth after the death of a loved one. Having a will eliminates room for friction among the family that sometimes lasts a lifetime.
Save Time and Money
When you die, your estate must go through the probate process. This court distributes your estate. However, leaving behind a set of instructions on how you’d wish to implement this makes it easier for the court. It shortens the process avoiding unnecessary delays. Assets left behind are subject to inheritance tax after exceeding a certain amount. Leaving behind a last will helps you minimize the amount of tax to pay.
Nobody likes to think about death, but it is good to stay prepared. Leaving a will makes it easier for your family to cope with having to lose you. As highlighted above, the last testament helps you take care of and protect your loved ones even in your absence.…