Discussing a will can be emotionally challenging. Mortality, end-of-life plans and distributing wealth are always sensitive topics for everyone. However, it could get more complex and demanding when an individual leaves the world without a will.
A will is an important legal document that accounts for an individual’s final wishes on how they want their assets, real estate or individual property to be managed after their death. Aside from that, it could also express your wishes on how you want to take care of your surviving family.
Here are some benefits of writing a will:
- Avoiding dying intestate: If you have a will, your representative, or the “executor,” will follow your instructions as written in the will. However, if you die without a will, or “intestate,” the decisions on how to divide your assets or how to take care of your children will be upon the verdict of a probate court. This process could potentially take several years.
- Settling disputes: It is better to have everything written down so that your heirs would not fight over the assets left behind. Having a will allows the family to understand your final wishes as they go through the process of grief.
- Following your wishes: Your will is your own decision. You can clearly state what or how much you want to give to any of your loved ones. Your will is something that your family would have to respect and honor.
It is never too early to write a will. Even if you are still deciding what to include in it, having a draft is still better than having none. In any case, wills can be updated whenever you want. It would be beneficial to seek legal advice to finalize your will, especially when you are unsure of how you want to manage your assets after your death.