Reasons Why You Should Write a Will.
All humans are mortal and have no power to provide the time of their death. Hence, you should prepare a will if you have wishes and not wait until when you are on your dying bed. A will is a document that is prepared by an attorney, and it contains all that you which to happen upon your death. The will should be updated on a regular basis until when you die. If you want to change your earlier wishes or include a newly acquired property, then you should consult with your lawyer. Majority of people neglect the need of preparing a will help especially the young. Therefore, as long as you have wishes about how your property should be distributed you should write a will. The article herein highlight some of the importance of drafting a will.
A will is the solution to the conflicts that arise between family members during the distribution of wealth. The process usually end up creating a division between your family if they fail to agree. The will will ensure that the process goes smoothly and peacefully since it will be used as the guide. One of the beneficiaries if you do not a will will be the government through taxation. The level of taxation depends on whether there is a will or not. To avoid losing a big fraction of your property to the government then you should
If you want to guarantee your kids will get to enjoy your wealth when you die you should write a will. The law only allows children to have full access to property after attaining 18 years. Therefore, the period until they attain 18years your property should be in the hands of a guardian. Therefore, you will be able to dictate the persons who will protect your wealth through your will. If you would wish to appreciate a friend with a portion of your property upon your death then you should make sure that you include him/her in your wish list.
A will will also bar individuals from making succession claims which the law allows. It is common to see several people making claims over a dead man’s property since there is no will. You can, therefore, prevent the claims by drafting a will. You property will also not end up in the hands of individuals that you never wished. If you feel that the beneficiaries by default should not be given your wealth then you can only do so by writing a will.
The other family members will also get the chance to enjoy your wealth. The will can also be used to disclose hidden property that you never wanted to inform your family about when you are still alive.