What are the Benefits of Having a Will?
Thinking about the time when you will no longer exist is quite distressing, but there are no doubts about the fact that writing a will eases your worries. It makes everything so much smooth when its finally the time to transfer all your property to your family or anyone you have mentioned in your will.
There are unlimited benefits of writing a will that not many people realize. We are here to discuss some major ones with you in case you are not in favor of a will.
- Your Property Goes to the People You Trust
Your property is your property and you have all the right to transfer it to whoever you want. You spend years building a house, so it must go in safe hands when you depart. Writing a will fulfills your wish to give your property to whoever you have mentioned in your will. No one can bat an eye on that and this is by far one of the biggest benefits. Simply imagine that your property goes into the right hands.
In a nutshell, it gives you the freedom to choose who will receive your property or any possessions that you have under your name.
- You Can Choose a Guardian for Your Children
All of us want our children to live their best lives and we wish to keep providing for them for as long as we can. Demise of parents leave a huge impact on the lives of innocent children. Luckier ones get to live a comfortable life while others suffer because no one is ready to own them.
Writing a will allows you to name any trustworthy person you would want to look after your children. This secures the future of your child and helps them lead a comfortable life.
- Saves Your Family from Complicated Legal Procedures and Other Challenges
Your property has to be divided in any case so it is better it is done in smooth manner. The existence of a will makes it easier to distribute the property as everything is clearly mentioned. Your family will have to visit multiple offices and courts to access your accounts and property if you do not leave a will behind.
Also, the court gets to decide who will get your property in case you die without a will. Above all, no one can illegally claim your property if everything is written in the will
- You Can Choose to Donate
This is another very effective use of a will. Writing a will allows your legacy to live for years because you can choose to gift or donate your property to organizations or charities. By doing so, everyone remembers your valuable contribution towards the society. However, you will need to know your regions laws regarding donating and gifting your property.
- You Can Decide Who Will Wind Up Property Division
You can name any honest person you would want to wind up your property affairs after you die. This can include paying off bills, cancelling your cards, and even informing your banks or any organizations you are associated with.
If you live in Australia, then you can benefit from several companies like State Trustees who assist in writing a will.