What's in a Will?
So you've always heard that word before. And no, I do not mean Will power.
A Will or testament is a legal document where a person (the testator) expressly states how he wishes his assets to be distributed at the time of death, and the person/she wants to distribute those assets until their final distribution.
But why is this document important? While we all know death is the only certainty in life, some of you may say "me can't bother with that" or "I'm too young/old for that" or even "let my family deal with it themselves."
Well, congrats to you as you have just put your family in a more difficult position. And why is that? When a testator dies, a Will makes it a lot easier for family/beneficiaries to apply for a Grant and distribute all those assets you would have obtained in your lifetime. So that car you love so much, that house you worked so hard to get, not having a Will is the worse possible decision you could make for them.
Why is that? Generally, where no Will exists, the application process takes a longer time. And guess what, that car you serviced every year, will gather dust, will depreciate until that process is completed. That lovely house you cleaned every week and spring cleaned on holidays, two words 'mash down'.
Having your Will allows your beneficiaries (anybody benefiting from your estate) to preserve your assets in the shortest time period.
Let's hear from you! What do you think about Wills? Do you have one? No? Then let's talk legal!
A Will or testament is a legal document where a person (the testator) expressly states how he wishes his assets to be distributed at the time of death, and the person/she wants to distribute those assets until their final distribution.
But why is this document important? While we all know death is the only certainty in life, some of you may say "me can't bother with that" or "I'm too young/old for that" or even "let my family deal with it themselves."
Well, congrats to you as you have just put your family in a more difficult position. And why is that? When a testator dies, a Will makes it a lot easier for family/beneficiaries to apply for a Grant and distribute all those assets you would have obtained in your lifetime. So that car you love so much, that house you worked so hard to get, not having a Will is the worse possible decision you could make for them.
Why is that? Generally, where no Will exists, the application process takes a longer time. And guess what, that car you serviced every year, will gather dust, will depreciate until that process is completed. That lovely house you cleaned every week and spring cleaned on holidays, two words 'mash down'.
Having your Will allows your beneficiaries (anybody benefiting from your estate) to preserve your assets in the shortest time period.
Let's hear from you! What do you think about Wills? Do you have one? No? Then let's talk legal!
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