Why do you need a will?
While many of us don’t want to think about it, death comes to us all. And though we all want to live life to its fullest, there is a good chance that we will have some possessions left when we die.
So have you made a Will?
“I’m too young to make a Will…, I don’t have anything to give away…, it’s too complicated…, it costs too much” tend to be the reasons why people do not want to make a Will.
Hopefully, after reading this, you’ll see that making a Will is very straightforward and inexpensive process.
What is a Will?
The definition of a Will is “a legal document containing instructions as to what should be done with one’s money and property after one’s death” (oxforddictionaries.com/definition/english/will–2?q=a+will#will–2__34).
So rather than have everyone squabbling over your possessions after you die, make a Will.
Essentials for a Will
- Nominate an Executor: choose wisely as this is someone you must be able to trust to carry out your instructions after your death.
- Be very specific with your instructions. Even though it is not necessary to have a Will drawn up by a lawyer, it may be helpful to have one cast an eye over your Will, particularly the wording. What makes sense to you may not make any sense in legal terms.
- Make sure it is legal. Nowadays you can purchase do-it-yourself Will kits readily (and cheaply), however, they may not be robust enough to withstand the scrutiny of the law, especially if you start getting complicated about how your assets and possessions are to be divvied out after your death.
If you choose the lawyer route, find one who specialises in drawing up Wills; they can ensure that after your death, there will be no legal ambiguities about your wishes, and, despite what people think about lawyer fees, it is not that expensive either.
Whichever method you choose to draw up your Will, it is imperative to make sure that it is legally binding otherwise your Will is not worth the paper it’s written on. By seeking legal advice you can avoid unnecessary complications, after all, your death should be a time to reflect upon your life’s achievements, not fight over them.