7 Reasons Why You Need A Legal Will
Writing a Will is the last thing on many people's minds, not least because no one wants to think of dying. However, it is one of the facts of life that we shall all pass on one day. Some people believe that a Will is only for wealthy people and some dismiss it because they don't have children. The truth of the matter is that everybody needs a Will. Here are some reasons why.
Firstly, your Will is the instructing instrument used to direct your estate and how you want your property to be distributed or shared upon your death. If you do not have a Will, this decision will be made according to legislation. Without a Will, you do not get to decide who gets what, and individuals may get far less than you intended than if you had clearly stated in the Will what you wished to occur. Additionally, you may intend to leave money for other things, such as your favourite charity organisation or funds to further your business. This may be difficult to achieve unless specifically stated in a Will.
Secondly, it often costs a few hundred dollars to draft a Will. However, if you die and do not have a Will there may be a lot of confusion and possibly disagreement amongst your family members as to the sharing of your property. This could cause disharmony. These cases often go to court and this could cost thousands of dollars in court costs and legal fees. Court proceedings could also extend for a long period.
Thirdly, if you have a Will, you can pick a trusted friend or family member to execute your wishes, and your attorney or lawyer will ensure that your wishes are enforced.
Fourthly, your Will is an ongoing document after your death. It gives you legal authority. For example, you can state how much money you want to go to each one of your children and when. Without this legal document, your children may get it all at once, leaving them with nothing in the future.
Fifth, you may intent to leave money for other things, such as for your favorites charity organization, to further your business etc. These wishes would never be accomplished unless specifically stated in a will.
Sixth, you can indicate in your Will who you want to care for your children. Without a Will, there may be custody battles as to who can have guardianship of your children.
Lastly, without a will, harmony may be lost in your household. This is because your family members may end up fighting over your money and properties. With a will, this could easily be avoided.
Firstly, your Will is the instructing instrument used to direct your estate and how you want your property to be distributed or shared upon your death. If you do not have a Will, this decision will be made according to legislation. Without a Will, you do not get to decide who gets what, and individuals may get far less than you intended than if you had clearly stated in the Will what you wished to occur. Additionally, you may intend to leave money for other things, such as your favourite charity organisation or funds to further your business. This may be difficult to achieve unless specifically stated in a Will.
Secondly, it often costs a few hundred dollars to draft a Will. However, if you die and do not have a Will there may be a lot of confusion and possibly disagreement amongst your family members as to the sharing of your property. This could cause disharmony. These cases often go to court and this could cost thousands of dollars in court costs and legal fees. Court proceedings could also extend for a long period.
Thirdly, if you have a Will, you can pick a trusted friend or family member to execute your wishes, and your attorney or lawyer will ensure that your wishes are enforced.
Fourthly, your Will is an ongoing document after your death. It gives you legal authority. For example, you can state how much money you want to go to each one of your children and when. Without this legal document, your children may get it all at once, leaving them with nothing in the future.
Fifth, you may intent to leave money for other things, such as for your favorites charity organization, to further your business etc. These wishes would never be accomplished unless specifically stated in a will.
Sixth, you can indicate in your Will who you want to care for your children. Without a Will, there may be custody battles as to who can have guardianship of your children.
Lastly, without a will, harmony may be lost in your household. This is because your family members may end up fighting over your money and properties. With a will, this could easily be avoided.
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