The Importance of Having a Will in place

The Importance of Having a Will in place

Life is unpredictable and there is no denying this fact. No matter how hard you try and how much money you spend to have an increased lifespan, your time of departure is already fixed and cannot be changed either. Making a will as early as possible is as important as signing up to the health and finance insurance policies because the saved and invested money/property will be of no use if there is no legal document that confirms its inheritance to the respectively deserving people i.e. your family and friends.

The importance of having a will can only be understood by having an idea about the drawbacks of not having one, or if you have issues with a will, that might be unfavourable according to your orders and requests of the will. Even if you’ve verbally announced your will in front of the reliable witnesses, it still does not hold any legal importance due to which serious problems might occur resulting in family disputes and uncomfortable court rounds.

Why do people not make the will?

There are a couple of reasons for people not making will in their life, which includes:

  1. They assume that will is to be made in the old age whereas there is no such guarantee of reaching that age due to uncertainty in life. This is a common misconception which people need to get out for promising and secure future of the loved ones.
  2. They don’t understand the importance of having a will because either no one in the family had done it before or there was no awareness spread about it by the concerned legal authorities.

Benefits of having a will in place

  • Family’s financial security:

Your family’s financial security after your demise will be there with a legal stamp in it that will not allow anyone to interfere in it, providing enough benefits to them in terms of having a secure future.

  • Living your dreams even after death:

Whether you have a dream of your loved ones using your assets for their personal interests or donating it to the needy and deserving people, both of these can be attained only if you make and sign a legal will document.

  • A clear concept of the inherited assets:

Making a will allows you to have a clear concept of the assets that will be further inherited by the people, friends, and family, mentioned in it. This way, not only you will be able to gather all the relevant information of the assets and property that you own but also make it easy for your loved ones to take their rightful possessions without involving in any negative situations.

  • Avoid unnecessary courtroom debates:

When you don’t have a will in place, you’re unintentionally making your family’s life difficult by making them engage in the uncomfortable courtroom debates regarding your assets and its deserving inheritance.

  • Prevent unwanted family conflicts:

Not having a will most likely and ultimately result in unwanted family disputes that you definitely do not want to happen. Hence, makes sure to make a will for every concerned person to know what they legally have in their best interest.

The importance of having a will can only be understood once you have a virtual experience of it by witnessing someone from the family bearing the poor consequences of not making a will for the loved ones’ financially secure future.

This is a collaborative post

Share:

Leave a Reply