Friday, March 20, 2020

Should You Think About Writing A Will?

There’s a lot of uncertainty in the air, and life has really been flipped on its head as of late. The coronavirus outbreak has got us all living indoors with plenty of time to ponder everything about life. As the title of this blog suggests, it might be time to think about writing your will. I’m not trying to be ominous or suggest that something bad will happen to you! However, times like these put everything into perspective. Life is precious, so you really need to consider what will happen when you do pass away - which will hopefully be in many, many years. 

With plenty of free time on your hands, there’s no better time to start writing your will. If you’re still not convinced, then have a look at these reasons to at least think about writing it: 

Protect your kids when you’re no longer around

The sad reality is that we never know when we’ll die. It could be today, tomorrow, or 70 years from now. Regardless of when it happens, you need to know that your kids are safe and looked after. This is particularly important if you have very young children. Yes, they might grow to be 40 or 50 before you die, but they could also still be underage - you just don’t know. Writing a will means you decide what happens to them in this unfortunate scenario, so you know they’re looked after and kept safe. It also means you can give them money and other assets, which will help them in their life. 

Protect your assets

When someone dies, all of their assets need to get divided up and sent to different places. This involves something called probate estate, which is the legal term for all the shenanigans that go on behind the scenes. If you don’t have a will, then your assets don’t necessarily go to your next of kin. Sometimes, they’re just seized by the bank or given to the government. Needless to say, you don’t want this to happen. You spent a lifetime earning all your assets, so make sure they’re protected and end up in the right hands. Your will is the best way to dictate this. 

Remove stress from the grieving process

Some of you may have already had the terrible experience of dealing with the death of a parent. As you know, there are so many things to do with regard to funeral planning, sorting out all of their old stuff, and so on. It’s a very stressful time, and things are made even worse if there’s no will. Writing a will will make things easier for your children when you pass away. You’ve left clear instructions for what to do with everything you own, so there’s no guesswork or legal battles to worry about. 

I know you don’t like thinking about this, but it’s a part of life we all need to come to terms with. Writing a will isn’t a death sentence! You can write it whenever you like, no matter how healthy you are. It’s simply there to provide assurance to your family when the time is right. 

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