There is this thing that we all have to face at some point in our lives and that is when we face our own deaths. When that happens, we are going to leave behind our families and we may never be able to see and hold them again.
Even though that event is something that is unfortunate, you can still do something for your loved in the last effort to make them feel safe and comfortable and that is by imparting all of your assets to them.
However, one interesting statistic (or rather, an appalling one) is that 45% of people all over the world rarely even considering writing a last will and testament. If this happens, your assets and your various other properties will go through a form of probate that is known as intestate succession. Not only does it require a lot of money but it also takes a very long time as well (it could take more than 5 years or more, especially if you have plenty of assets and a lot of possible beneficiaries).
The court administrator will be the one to split up all of your available assets to your beneficiaries and that will depend entirely on the laws that govern your state or country. If this has to happen, this can lead to frustration and unhappiness on the part of the people who you’re going to leave behind.
Do You Need a Will?
I mentioned earlier that whenever you die and you do not have a last will and testament, that all of your properties and assets will go to a type of probate that takes a lot of time and money.
A last will and testament is basically a legal document that highlights all of your properties that you wish to give to a specific person. This will leave little to no room for errors and that making it a good one will ensure that your loved ones will no longer have to undergo the painstaking process of going through intestate succession.
Aside from that, some countries or states do not deem your stepchildren as your legitimate children, probably for the purposes of inheritance rights. Unless you create a Will that specifically states that they, too, can receive some of your properties, then they will be left with nothing.
How Do You Write Them?
Well, you can actually write your Wills through a variety of different ways, including:
- DIY Kits- There are some software programs and websites that will provide you with some templates that you can use when drafting your own last will and testament. There are also some that you can buy from your local stores as well.
- Learn Your State Laws- Should you go with the DIY route; it is important that you know your state/country’s laws pertaining to inheritances. If this is something that you do not want to go through, then you can just hire an attorney to help you.
- Choose an Executor- You will need someone to carry out your final wishes, so appoint someone that you can trust (your attorney can also be appointed as one).