According to a recent survey, approximately 50 to 60% of Americans do not have a will and do not intend to write one. Anyone with basic legal acumen realizes the importance of having a will. However, people who don’t want to invest in writing or creating a will are usually unaware of the consequences of not having one.
A will, also known as a testament, is a legal document containing a person’s final wishes and desires. After a person’s demise, their lawyer introduces the deceased’s family to their will so their affairs can be sorted as per their preferences. Not having a will complicates the process, and frequently family members fall into disputes over important decisions. Experts recommend writing this legally binding document to clarify how you would like things to be done after you have passed away. A will also help you safeguard your spouse, children, pets, assets, etc. A will takes care of all, from making provisions for loved ones to ensuring your assets are not compromised.
Writing a will during your lifetime is probably one of the most important decisions you can take to ensure your and your family’s happiness. However, if you are still doubtful about the importance of having a will, these seven reasons will help you understand its significance.
- Asset Distribution
You can use a will to determine what happens to your assets after you pass away. It can maintain peace and harmony among your loved ones and ensure they do not get involved in ugly feuds while making property claims. However, disputes over a deceased’s assets can often push family members to challenge the will’s validity. In this case, the court has to conduct a will probate process to determine the authenticity of the will left behind. Therefore, it’s best to involve your lawyer when drafting yours.
- Takes Care Of Loved Ones
It can bring up some uncomfortable feelings but wouldn’t you want to specify how your children or spouse is treated after you pass away? A will helps you share the last message with your loved one in which you can confess to things and even state how you would want your partner or child to be cared for after your demise. This portion deals with you deciding who gets to take care of your children once you can no longer do so. Specifying this decision helps your children steer clear of the trauma of being involved with family affairs authorities and being called children of the state.
- Avoids Complications And Additional Costs
When you clearly describe all your legal matters in a will, your family is much more aware of your financial situation. Clarifying how much money you own and how much money you owe can help family members understand and process your financial matters better. They can easily put debt claims to rest without involving the court and paying hefty sums of money to lawyers. If you pass away without writing a will, your family will have difficulty dealing with your unresolved matters.
- Lines Up A Trusty Executor
When you pass away, your loved ones may be dealing with a great deal of emotional trauma. In such a situation, you can’t expect them to be sorting your business, financial, or other legal matters. A will helps you specify a trustee executor who can sort all your matters after your demise without troubling your loved ones. First, however, make sure that you pick a person you can trust wholeheartedly and depend on to make the right decision. It’s best to involve a family lawyer or a third party in deciding on the executor who can separate practicality from emotions to ensure that you choose the right person to execute your will.
- Makes Donations In Your Name
Cancer, stray animals, orphan children, or more – there are so many causes in the world that require attention and donations. If you feel emotionally connected to a cause or a charity, you can use your will to specify how much you would like to donate to that matter even after you pass away. When you mention your donation interest in your will, you leave behind a desire your loved one must fulfill. Doing so will help you play a massive role in the community even after your demise. People will remember you for your efforts to make the community and the world a better place.
- Eliminate Uncertainty From Your Life
How often have you seen a loved one pass away even though they were exceptionally healthy? Death comes suddenly and in ways, you can never imagine. It explains why lawyers recommend writing a will even if you are healthy and then making changes and alterations in the legal document when needed. Early in life, taking care of a will helps you eliminate uncertainty and tie up all loose ends. You are always prepared for death to come knocking at your door when you write a will because you leave no matter unsorted. Even when life deals you with an expected set of cards, you will die knowing that all your wishes and desires will be taken care of.
- Provides Funeral Instructions
Do you wish to be buried in a specific place after a unique funeral ceremony? A will can help you convey your wishes and desires to your loved one so you can be remembered the way you want to. Detailing funeral instructions like the final resting place, service, menu, eulogy, and more in your will can also help take the burden off of your grieving family members. The court will appoint a funeral executor to manage your wishes after you pass away, so your family and friends don’t have to take care of paying the bills or booking a location when they are dealing with the loss of a loved one.
Writing a will provides immense benefits to you and your family. You get a chance to clarify your intentions after your demise and leave your legacy in safe hands. The reasons mentioned above further elaborate on the importance of writing a will. However, writing a will acceptable in legal terms can be tricky. Most people get confused about what to include and exclude in a will. If the written content of a will is clear, sometimes people get confused about the format and tone of a will. If you find yourself in a similar position, you should hire a legal authority to help you simplify the complicated process and streamline important decisions.