Chances are, writing a will is actually a lot easier and not half as expensive as you think it would be. Moreover, wills aren’t only for the wealthy, as everyone who has assets, whether they have dependents to think about or not, needs to have a will written before they depart this world and who knows when that will be?
Whether you’re extremely wealthy, financially comfortable or you’re stressed about your finances, don’t make the mistake of putting this important matter off until a later date. Here are four reasons why you need to have a will written if you haven’t already done so – don’t leave it until it’s too late!
One – It Makes Things Easier for Your Friends and Family
Without a will that sets out your instructions for how you want your estate administered, it can be very difficult, not to mention time-consuming, for your family and friends to have your estate sorted out when you’re no longer with us. This is the most pressing reason for most people to have a will made.
Wills set out how a person wants their estate to be administered and by whom, so if you don’t have one made with the assistance of leading will writers such as Heritage Wills, it will have to go through the courts and legal system which can not only prove to be expensive, but will also have the effect of taking a long time.
Two – Your Estate Won’t be Distributed According to Your Wishes
Without a will, there’s a very good chance that your estate won’t be distributed according to your wishes though, naturally, this depends on how you want your estate administered and distributed.
Should you fail to have a will written, your estate will be administered and distributed in accordance with the law at the time, so it may be the case that it will give more to some people and less to others, which perhaps isn’t how you envisioned your estate being distributed. To avoid this common scenario, one which affects the estates of thousands of people every year, you should have a will made without further delay.
Three – A Will Makes Sure Everyone is Taken Care Of
Writing a will is always important, especially if you have you have children, not to mention others who depend on you financially and would be left out if no legal will was made during your lifetime to outline your wishes on how your estate should be divided and distributed.
It isn’t uncommon for people to want to leave something for people who are outside of their immediate family, however, due to the law, they wouldn’t receive anything if a will wasn’t made because the estate would go to the family of the deceased. So, for example, if you wanted to leave something for a friend, not necessarily money perhaps a collection or a painting, should no will have been left, this wouldn’t occur because that isn’t how the law distributes estates without a legal will.
Four – It Reduces the Inheritance Tax That Must Be Paid
Another excellent reason to have a will made is that it can help to reduce the amount of inheritance tax that will need to be paid on your estate when you pass away. That means by having a will made, you can ensure that as much of your estate as possible is distributed among your family, friends and any charities or other organisations that you’d like to leave something to, with as little going to the government as possible.
Making a Will
As mentioned earlier, wills aren’t only for the wealthy and it’s in everyone’s best interests to have a will written, plus they are actually very easy to make when you have sourced a local will writing business. Here’s what a basic will entails:
- The persons or organisations that you want to benefit from the instructions in your will
- What happens if any of the people whom you want to benefit from your will die before you
- The persons who you want to care for any children under 18 years of age
- Who will be the executor of your estate and carry out the instruction in your will
These are decisions that you can make for yourself, so have a good think about things, jot down names and notes, and then find a good will writing business to assist you with writing your will. And as having a will written is both easy and affordable, why not look at having your will written today?