• Home
  • Contact Us
iBusiness Angel
No Result
View All Result
Monday, February 6, 2023
  • Home
  • Finance
  • Accounting
  • Sales
  • Business
  • Marketing
  • Home
  • Finance
  • Accounting
  • Sales
  • Business
  • Marketing
No Result
View All Result
No Result
View All Result
Home Business

The 6 Reasons To Make A Will

by Michael McDonald
January 3, 2023
in Business
0
The 6 Reasons To Make A Will
154
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

What is a Will?

A Will is a legal document that allows you to set out instructions regarding the persons who will inherit your estate, how you would like to be buried, and anything else you wish done after you die.

In a nutshell, a Will includes everything you wish, such as the funeral you want, how you would like your possessions to be distributed, your wishes, and anything else. Legally, you can write the Will yourself. However, if you have a complicated estate or require help, you can seek the services of an experienced solicitor.

According to research, about 60% of people do not have Wills. The problem with not having a Will is that when you die, your estate will be distributed according to strict rules. This means that people you do not care about may lose out.

Why Should You Make a Will?

1. Giving You the Final Say Regarding Your Children’s Guardian

Writing a Will does not only involve the division of your estate, you also have the power to mention who will look after your dependents. You can appoint a legal guardian if your dependents are under 18 years old. If you do not include this in your will, the family courts make the decision. This means that your dependents may be given a legal guardian with whom you do not agree.

2. Ensure Your Children are Financially Provided

Aside from saying who will raise your children, you can plan for your children’s future financially. That can be anything, such as putting some funds aside for their edification, ensuring they collect a specific amount every month for their extracurricular activities like hobbies or creating a bubble to purchase a home. You may even consider setting up a trust.

All this gives you an element of control when you are not there. The good news is that there are two ways to set up a trust. One of these methods involves establishing it while you are still alive or leaving instructions for it to be set when you pass away. To know more about trust funds, go through our guide on Will Trusts. You will learn a whole lot, including how different types of trust work and their costs.

3. Provide for Your Dependents

When discussing dependents, it does not always refer to your children; it can also refer to other people. For example, if you have stepchildren who are a big part of your life, they are also your dependents. If you die without a will, the state will only distribute your estate to your spouse or blood relatives. This eliminates other family members, like stepchildren.

Therefore, if you wish to provide for your children, you will need to write a Will that includes them. This also goes to foster children and other dependents.

4. Protecting Your Partner (For an Unmarried Spouse)

According to the law, unmarried partners are not entitled to anything from your estate, unless there is a legal document that links both you and the other partner. For example, a child is related to you through a birth certificate, and a partner is linked to you through a marriage certificate. However, what if there is no marriage certificate?

Well, a Will is a legal document that shows you know your partner and are willing to include them in the inheritance.

5. Safeguard Your Family

Suppose, your family house is in your name. In that case, your unmarried partner, stepchildren, or foster children are not considered family and cannot inherit your property, unless you have something to say about it. This means that they may lose their home if they do not have a Will.

Are you planning on leaving a legacy for loved ones? It’s important to have a plan in place before death strikes. Solicitors in Surrey can help you create an effective will, if you’re living in Surrey.

6. Prevent Disputes

The sad truth is that dividing up an estate sometimes brings up disputes and arguments, especially when there is no Will. Take note: contesting a Will can be damaging to relationships in your family and may be expensive. A well-prepared Will can prevent all arguments.

Michael McDonald
Michael McDonald
No Result
View All Result

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019

Categories

  • Accounting
  • Auto
  • Business
  • Coworking space
  • Featured
  • Finance
  • Human Resource
  • Industrial Fume Extractors
  • Industry
  • Investment
  • Laboratory
  • Law
  • Legal
  • Marketing
  • Real Estate
  • Sales
  • Tech

Recent Post

Why invest in Agrigenomics & Genotyping Solutions As a Farmer

Why invest in Agrigenomics & Genotyping Solutions As a Farmer

February 4, 2023
Can You Power Wash A Brick House?

Can You Power Wash A Brick House?

February 3, 2023
What Are the Applications of mRNA?

What Are the Applications of mRNA?

February 3, 2023

Priorities to Consider Before Starting an SEO Campaign

February 2, 2023

Searching for a Mortgage Loan that Meets Your Needs

February 2, 2023

Advertisement

Recent Post

Why invest in Agrigenomics & Genotyping Solutions As a Farmer

Why invest in Agrigenomics & Genotyping Solutions As a Farmer

February 4, 2023
Can You Power Wash A Brick House?

Can You Power Wash A Brick House?

February 3, 2023
What Are the Applications of mRNA?

What Are the Applications of mRNA?

February 3, 2023

Quick Link

  • Contact Us
  • Finance
  • Accounting
  • Sales
  • Business
  • Marketing

Featured

Copyright © 2019 ibusinessangel.com | All Right Reserved .

No Result
View All Result
  • Home
  • Finance
  • Accounting
  • Sales
  • Business
  • Marketing

Copyright © 2019 ibusinessangel.com | All Right Reserved .

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In