5 Reasons you Need a Will and What to Include – 2021 Guide
It is understandable that you do not really like to think about the end of your life, especially when and how it may occur. We only have one life and we should cherish it and fill it with positive things as much as possible. Therefore, thinking about the end is something people are generally reluctant and even afraid to do. However, we are mortal beings and we will all one day move on from this world. And once that happens, the ones we left behind will have it the hardest. Your loved ones, specifically family members, will suffer the most with you not being there anymore.
When we die, we do not know that we died and therefore do not feel it. The ones that witness it feel all the sadness and emptiness, which is why you should make it as easy for them as possible and do certain things in your life to take care of them.
Taking Care of Loved Ones
Having a well set up before you die is crucial if you have a lot of families, especially those younger than you. This is even more true if you are a parent and a grandparent with a few children and a dozen grandchildren to think about. It is natural that you wish them nothing but the best, and the only way you can achieve that once there is no more of the physical you to be with them is to leave them all you had in order to make their lives easier. The last will and the testament document legally bind your personal belongings and assets and transfers them onto those you had chosen before you died. Once they get it they can do whatever they please with it, unless you specifically wanted something else. In any case, your side of things is done and it is up to them from that point on.
Still, however, a lot of people lack do not have it, which makes things hard for everyone. If you need a few reasons to persuade you that you need a will, and what to include in it, keep reading this article. What is more, if you are looking for additional information on this topic, click here.
What to Include
We will first talk briefly about what you should include in your will, before moving on to the reasons to have it in the first place. Simply put, you should include everything you managed to get in your life and transfer ownership to those you deem fit. Basically, every property, vehicle, bank account balance, personal items of value, and other assets should be in your will. Otherwise, family members may fight over it for years, or the government may end up owning it after they fail to take care of it properly without it being assigned to them. If you manage to divide your belongings and assets equally, you will help them greatly. Even the smallest amounts of money and your dearest items will mean the world to them since they will always be thankful to you and have something to remind them of you. The best advice here is to include everything you have, apart of course from something you specifically wish to donate.
Reasons to Have a Will
Let us now get to the top reasons why everyone should have a will ready before they leave this world.
1. Taking Care of Children
Parents and guardians should absolutely get their wills in order and update them along the way as soon as possible. Your children are the most important thing you have created and they will continue your family and your legacy. Not only that, but they are the ones who will remember you the fondest and miss you every day. It is only natural that they should be covered and inherit the things you managed to get in your lifetime. Your family home, family car, and your life’s savings should be a no-brainer and go directly to your kids. Split things equally and make sure to predict as best as you can what they will have the use of the most. For example, one may need a home more than the car, but the car is less valuable so leave them more money.
2. Your Partner Should Be Set
If you are somewhat older than your partner or if you have lately been experiencing health problems, maybe you should think about leaving it all to your husband or wife. The children will still be covered thanks to them in their lives once you are gone. The spouse should be the one to continue taking care of them, as well as of the assets, until it is time to truly give it all to the kids. Most assets transfer to the spouse and the kids equally once the head of the family passes away anyway, but this way you could make sure and make certain adjustments.
4. Save Them from Stress and Trouble
Losing somebody is stressful enough without having to get all the property and asset affairs in order. If you truly care about your family, you will have taken care of everything before you pass away and save them the troubles and stress of paperwork, lawyers, and insurance firms. People who take care of their own burial costs generally save their family a lot of trouble, but a will that will get everything in order apart from this is another great thing and a final goodbye they deserve.
5. Clear Roles, Incentives, and No Disputes
As a part of the will, you can make sure the family members behave as they should, become the best people they can, and never fight amongst each other. Clear roles regarding who should manage the estate, digital assets, and business are important. For younger generations, you can make incentives like having to graduate college in order to become eligible and inherit the money. Lastly, if you take care of everything and everyone properly, there cannot and will not be any disputes. Everyone will have something, but most importantly, they will have each other. Financially covered thanks to you, they will have all the right means to prosper on their own.