Making a will and estate planning can be stressful things to do, but ultimately, it will help and protect the ones you love the most. This is why we decide to get some more information from the experts on the topic. See what we learned below.
Why make a Will?
Every adult should have a Will, to make sure your assets are distributed the way that you would wish. Many of us put off doing a Will, but if you don’t leave a Will, the law decides how your estate is passed on – and this may not be in line with what you would want.
So why do you need a Will?
- So that your assets are distributed according to your wishes.
- So your loved ones can be provided for
- So that charities close to your heart can receive a gift
- To appoint executors
- To appoint guardians for your children
- To minimize inheritance tax
having a valid will makes it much easier for your family or friends to sort everything out when you die – without a will, the process can be time-consuming and stressful for those that have to deal with settling an estate after a loved one has gone.
Your will tells people two important things:
- Who should have your money, property, and possessions – your estate – when you die.
- Who will be in charge of organizing your estate and following the instructions you leave in your will – the executor or executors.
Within your will, you can include details about any other wishes you may have, such as instructions for your burial or cremation, and preferences as to your funeral arrangements