Two Reasons Why You Should Create a Will
Posted on: 19 December 2017
If you own property and have savings and investments, it is crucial to hire a wills and estate lawyer to help you draw up a will. Read on to find out why.
To ensure that your wishes are respected
A will is a legally binding document. As such, by having your lawyer draw one up for you, you can ensure that your estate will be divided up in the precise manner that you have outlined in your will after you pass away.
This is a very important point to note if you do not want certain members if your family to receive a portion of your estate. If you do not have a valid will at the time of your passing, it is quite possible that those family members will inherit some of your money or property.
This could happen, even if you have told your relatives how you want your estate to be divided up and have explicitly stated that you do not want a particular person to receive an inheritance from you. The reason for this is that verbal statements of this kind are not legally binding in the same way that a will is, and as such, they can easily be disputed.
To prevent your loved ones from experiencing legal and financial difficulties after you are gone
The death of a loved one can be devastating and take a huge toll on a person's emotional, physical and mental well-being.
If you do not create a will before you die, you could make the (already very difficult) process of dealing with your passing significantly harder for your family.
The legal process of dividing up a deceased person's estate when there is no will is both complex and lengthy. In most cases of this kind, it takes at least a few months (if not longer).
This process could be further extended if one or more of your family members contest the end results of it. In this situation, your relatives could end up being involved in a very stressful and expensive legal battle with the person who contested the division of your estate.
During these months, your immediate family would not be able to access your money. This could place a huge financial strain on them, particularly if you were the primary earner within your family unit.
As such, if want to avoid adding to your loved ones' suffering after you pass away, it is worth hiring a lawyer to help you create a will.
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