4 Interesting Reasons Why You Should Have a Will
Wednesday, July 11, 2018, 6:00 AM | Leave Comment
Unfortunately, nobody is immortal. Whether you like it or not, you are going to pass away at some point. Since you don’t know when, it is important to be prepared in the event that anything happens. You can do this by ensuring that you leave a will behind.
A will is a legal document in which a person expresses their wishes on how the property should be distributed when they die, and names the executor to take care of the estate until the beneficiaries take over.
The will is there to protect your loved ones in the event of your demise, so they won’t be left stranded.
You can get your will done through the assistance of people in the legal profession such as solicitors in Caboolture. They will guide you through the whole process to ensure that your interests are firmly protected.
Below are some of the benefits of having a will prepared:
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Wealth
If you are a hardworking person, there is a very high probability that you have accumulated quite a bit of wealth over the course of your life. If you are like most people, the motivation to work hard was to provide for your family and ensure that they never lack.
A will helps you do that even after your death. If you don’t leave a will behind, your property may end up being distributed by a court of law, which may not be favorable to your family. Your wealth might end up in the wrong hands. As a result, your family may end up suffering and losing the stability you worked hard to provide for them.
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Trustee
A will ensures that all your interests are protected. When you are alive and well, you are able to micromanage every bit of your wealth. However, once you pass away, you no longer have that power.
A will allows you to appoint a trustee. This is the person that will take care of your assets in the event that your children or the other beneficiaries are not yet capable of handling the responsibilities of running the estate alone. It will prevent misappropriation of funds and secure what you will have worked hard for.
The beneficiaries can take over once they are fully trained or capable of managing the wealth well enough.
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Executor
When you are gone, you won’t be able to ensure that your wealth is distributed according to your wishes. However, when you prepare the will, you get to choose the person that you want to execute all your wishes. This should be a person that you trust, and know that they are honest.
They will be able to ensure everything is done according to what the will states. The beauty of this is that they will execute your wishes under the watchful eye of the court. This prevents any malpractices if they were to get greedy.
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Peace of mind
At your demise, your family will be thrown into a state of mourning and grief. They will be busy making burial plans to ensure that they give you the most appropriate send-off. Death usually takes such a huge toll on people.
Leaving a will will make the whole process easier. Your loved ones won’t have to fight for your wealth. Instead, they can focus on mourning you, and learning how to live without you. They will be secure in the knowledge that you had made prior arrangements for their well-being.
