Writing a will is one of the most unpleasant yet necessary tasks you have to undertake.
Most people worldwide believe that thinking about death is terrible, and they don’t understand why a will is necessary. But failing to write a will could lead to unending family disputes in the future. This is what makes it so important to draft one.
A will is a written document that communicates how you wish to distribute your assets after you die. You can also assign a guardian to your children in case you die before they reach adulthood and even specify how you want your funeral service arranged.
You should consider writing a will for all your properties and assets. Ensure to update your will regularly as changes occur in your life including, having kids, marriage, and even death. Review your will once in a while to ensure that it reflects your life and wishes.
Read on to learn more.
How to Create a Will
There are various ways to write a will.
Write it yourself
Writing a will in your handwriting and signature is legal. If you write the will yourself, you will not need witnesses to validate a will. However, people may have challenges in interpreting parts of the will that are unclear.
Have a Lawyer Write It
A lawyer writing your will is the most efficient path you can take, especially if you own valuable assets. Lawyers are highly skilled in writing wills since they provide clear and straightforward content.
Additionally, a lawyer will ensure that you’re not unknowingly handling the property to somebody through your will. This applies when a beneficiary is already entitled to a specific policy.
Why Should You Write a Will?
Once you fail to write a will, you leave it to the court to divide and distribute your properties. Sometimes, this might be contrary to your wishes.
Other than that, here are a few reasons why you should consider writing a will
It Makes It Easier to Sort Everything.
A will states how you want your property distributed and to whom. It’ll be easier for your family and relatives to sort everything out after your demise. Writing a will is the best way to ensure that your investments are in order.
Besides, without a will, the process can be stressful and time-consuming. Fights can occur, bringing up the need for compassionate criminal defense attorneys to solve the arising issues.
A will is faster and less costly in general because your inheritors will use fewer finances to settle property and assets after you die. The legal fees will decrease in this way, protecting the value of your savings and possessions to leave to beneficiaries.
A will can significantly decrease the amount of Inheritance Tax your family has to pay. Drafting your will smartly allow you to take advantage of tax laws for the benefit of your successors.
Ensures Your Family’s Safety and Protection
You can also protect your family by writing a will. A will is vital, especially if you’re the breadwinner in your family. It is crucial to ensure that your immediate family will be comfortable after your death.
If you have children, the custody of your kids will automatically fall to your partner. If you’re a single parent, you can state the person who’ll be a guardian to your children in your will.
It would be best to seek the person’s approval before giving them the task because it might be inappropriate for them to find out after your death.
A will is a meaningful way you can control who gets what portion of your property. By planning, you can help your family and friends save a fortune.
Writing a will gives you peace of mind because you know your assets will be in the right hands after you pass on.