We all live life hoping that we will get to live it to the fullest. However, one thing for sure is that we will all die. Many people do not love thinking about it, but it is something you need to put a lot of thought into. Gone are the days where writing a will was seen as a way of wishing death upon yourself; today, writing a choice is more of a responsibility. If you are still on the fence on whether to write a will, here are 5 reasons why you should.
- You get to decide who owns your assets when you die
Whether you have only one asset or a number of them, it is vital to write a will. For example, if you have a thriving business, you need to leave it under someone who will nurture it to become even more successful. Having a will is an excellent way to do this. If it is a large company, you have the power to state who will take what position and how they should handle the company.
- It becomes easier for your beneficiaries
It is quite unfortunate that after a person dies without a will, some family members end up fighting because of the wealth that the deceased left behind. Having a will is a great way to avoid such disputes and give your beneficiaries a simple way to acquire your assets. Remember, a will is a legally binding document that will ensure that your wishes are executed when you die.
- It states who will take care of your children when you die
Another common reason why families have disputes after one of them does is on the subject of children. No parent wants to leave their children suffering after they die. As such, the will shall clearly state who will take care of your children and how you wish them to do so. Most often, you will even leave a share of your assets and some money too for the said person to take care of your children accordingly.
- It speeds up the probate process
The probate process can be lengthy and daunting if there is no will in place. This can, in turn, cause a lot of stress and financial constraints to your beneficiaries. Having a will, on the other hand, will speed up the probate process significantly. The probate and estate administration attorney will be able to take up the case quickly and represent you accordingly.
- It reduces your inheritance tax
Taxes can take up a lot of your money if you do not have a will in place. You can minimize your estate taxes by having a will in place.
In this day and age, it is only fair if you write a will. It will make it easier and less stressful for your beneficiaries to acquire whatever you stated on your will. If you need help writing a will, you can contact your attorney, who can give you insights on various matters.