Ensuring you have a will is the safest and most official way to make sure your worldly possessions are distributed how you choose when you die.
This is a legal document recording your wishes and outlining how your estate will be divided. Having a will is one of the more important things you can do to benefit your family when you die – it will save a lot of financial and administrative headaches for your loved ones at an already emotionally stressful time.
Have you been toying with the idea of drawing up a will? Below are four important reasons why you should get the document written and signed now.
1. Decisions are in your hands
If you fail to write a will, all of your possessions will be distributed according to standard law, which could possibly conflict with your wishes. The only way of ensuring your estate is divided precisely how you would like is to write a will.
For example, if you’re not married, even if you’ve been with your partner for many years and you live together, they won’t legally be entitled to your possessions.
By putting together a will, you ensure there are no blurred lines and your intentions are made perfectly clear.
2. You can make sure your family is taken care of
Not only will you be able to make sure your estate is divided up in exactly the way you want between your family members if you have a child, but you can also appoint a legal guardian.
Without stating who you want to be a legal guardian for your child or children, the process could be taken through the courts. Ensuring you write up your intentions will avoid all of this hassle and worry for your children or other family members.
3. You can appoint someone to wind up the affairs of your estate
When you write a will, it means you can designate someone you trust to wind up your estate. This person is called an executor and you can appoint more than one – they can be a family member, a friend or even a professional such as a solicitor. An executor will make sure the wishes in your will are carried out and your affairs are all in order. This includes paying final bills, cancelling bank cards, and notifying anyone that needs to know of your passing. Appoint people you feel are cut out for the responsibility of this role.
4. Record funeral wishes
It’s difficult enough as it is for family members and loved ones to cope with the grief of loss without having to plan a funeral from scratch. When you write a will you can outline your wishes for your funeral – for instance, you can make it clear whether you want a burial or cremation and what type of ceremony you’d like. You may also want to donate your organs when you die – you can sign up to the Organ Donation Register and include that information in your will.
Ensure you keep the original copy of your will safe once it’s been written and the signatures witnessed by two valid witnesses. If your circumstances change – for instance, if you get divorced – you will need to change your will. It’s also important to know that getting married will mean any existing will is automatically invalid. Keep on top of changes and admin to ensure there are no complications when you die. Choose an online will writing service with a yearly subscription and you will be able to log in and update your changes in every circumstance.
(Story source: 50 Plus)