Tips for getting a will written :
Uncertainties are inevitable. Hence, it’s important we provide a safe and secure future to our loved and dear ones. This can be done by making a will pre hand. The various reasons for making a will are as follows:-
Will generally assure a safe future. Will reassure that your property goes to the right person.
Wills help in avoiding disputes. Since a will is a written document, one gets to know how the property is going to be divided between relatives. If there are closed relatives and acquaintances making claims, then a will tells you how to prevent it in the best possible way.
A will ensures that your loved one gets their due share in the will. It in a way safeguards their future.
When you make your will, it helps you in cutting the inheritance tax bill.
Well, it’s anyone’s guess that if you do not make a will then your property may not go to the right person or the people you want it to go to.
What happens if you die without making a will?
If you die without making a will and you have a civil partner or a spouse, then in such a case your property will go to your better half and the remaining half of your assets will go to your children.
The executor is a person who deals with the distribution of property after your death. One can choose any number of executors, but one can choose only four executors for the grant of Probate. Executors also operate as trustees in case a trust is formed within your will.
Operating as an executor is not an easy task and no one from your immediate acquaintances may be willing to take on the task. In such a case one has to take the help of a professional executor.
Now, let’s study what are the topics covered while making a will in :
- Home and other forms of property.
- Savings in the bank insurance policy
- Pension funds
- National savings
- Assets such as motor vehicles
- Household furniture
For a will to be valid it needs to be a written document and one should be mentally healthy while making the will. Also, the will should be made involuntarily.
So, we can see that making a will saves you a lot of worries. After all, it’s better to be secure than sorry.