It is not an easy thing to get your will generated when you are alive. It is like accepting the most bitter reality of life that is the dismissal from this world. But accepting the realities and facts of life is the bravest thing to do. Nobody is here in the world forever, every life descends down in the world followed by the farewell time and it is ideal to plan a few things ahead of time when you reach a certain age group.
A written copy of a will gives you peace of mind that you have done something really important for your loved ones. A written will not only ensures that your belongings in the form of property and other things are distributed as per wish but it also saves a lot of time and money for your family.
Furthermore, you need to understand a few things very carefully to create the best will and stay stress-free and enjoy the years to come.
- What do you understand by the word ‘Will’?
A will is a legally documented paper of what you own in the form of property, life insurance, saving certificates, car, and other minor items like photographs and much more. It is essential to add the list of beneficiaries in your will to prevent any sort of dispute amongst the loved ones.
Is an attorney important to create a will?
Attorney is not as important to write a will although you can take advice and guidelines to create a problem-free will that follows the legalities of the place you are living. Wills Trusts LPA make a will online providing you with all the valid details and steps.
If you die without a written will
It is ideal to write a will as early as possible since death is unpredictable. Many people ignore creating a will just because they don’t want to face the fact. If you pass away without a written will then in that case the law decides the distribution of your property.
Who is an executor?
An executor is the person you declare in your will to take care of your estate after you die. The person is responsible for all the distribution once all the debts are clear.
Where can your ‘will’ be protected?
It is highly important to keep your will safe yet accessible to someone you blindly trust. A safe in a bank is the best option but will require some legal formalities to be operated by your family members after your death. Make sure to have signed copies of the original will with your lawyer or a person who you trust.
Can you update the will?
Updating a will is not a big deal you can do it anytime in your life depending on the changes which may occur like,
- Second marriage
- Divorce or separation
- Death of executor, beneficiary, or spouse
- Having a child or adoption
- Addition of an asset
It is advised to review the will after every couple of years.
Choose a guardian for your kids
This point is very important for people who leave minors behind them. It is ideal to declare a trusted guardian for your child or children so that all the expenses are handled with utmost vigilance and honesty until the beneficiaries are old enough to take care of the estate.
Chetan Sharma is a blogger and digital marketer by profession. He handles a network of multiple websites like hsslive & various others. He helps clients all over the world to achieve digital success.