Hire a lawyer for these wills and estate
Writing wills and planning the distribution of your estate is not something that is limited to wealthy people, in modern times anyone who has assets to dispose of can avail the service of wills and estate planning, and of course, you will require legal assistance for that. Before getting to the importance and advantages of writing wills and estate planning, one should know the difference between both these terms. Estate is a term that covers everything an individual possesses; net worth, securities, furniture, properties, and anything that has a value. Estate planning is a term that refers to the act of deciding what will happen to these assets once the individual dies. Wills are one of the tools through which an individual plans his estate distribution, it is a written piece of document in which the person has described and instructed his wishes regarding what is to be done of his or her estate with the help of a trustee. A will also include the appointment of guardians to their child. The appointed trustee then has the responsibility of carrying out the will of the individual after their demise. Therefore, from all of these, you can pretty much get the idea of how important is the act of estate planning.
The following are some of the advantages of estate planning or writing a will.
Protection of your children
Writing a will gives you the power to plan who will take care of your children. Appointing a guardian to children is one of the many decisions that is included in the will, this ensures that your children are protected and safe. It is much better this way rather than the court deciding upon your children’s safety and guardians.
Protection of your inheritors
As mentioned earlier in the introduction, a will is a written statement that deals with the wishes of the deceased person’s estate. A written will protects the inheritors too, their inheritance is carefully and specifically described in the will. In case a person doesn’t write a will then the family of the deceased will be contesting the inheritance in court. Therefore, a will is a better way of ensuring that the inheritors are well protected with their assets.
Do away with family conflicts
If a person doesn’t provide a will for his or her estate, more often than not there is a chance of a family mess. This would be the last thing one would wish after their lifetime that their families are feuding over their inheritance. Writing a will and dispensing one’s assets and valuables is one way the deceased can ensure that in their demise, all the family members and friends inherit what is put in place for them. Thus, do away with family conflicts.
Certainly, there are many more advantages when it comes to estate planning and writing wills but the above-mentioned points are enough to drive the importance of such activities and decisions. Call up your legal lawyer now and plan for your afterlife.
comments powered by Disqus