26 May Top 5 reasons for preparing your will
Thinking of preparing your will? Here are the top 5 reasons you should pop this one to the top of your to-do list.
Writing a will is one of those important “adulting” things we all should consider doing. There are many reasons why one may choose not to, be it cost, the perception that only wealthy people need wills, a belief that young people don’t need wills or even a fear of talking about death.
Here’s our top 5 reasons:
- Ensure that your assets are distributed according to your wishes: By making a will, you can specify how your assets will be distributed after your passing. This can help avoid disputes and ensure that your property and possessions go to the people or organizations that you choose.
- Appoint an executor: A will allows you to appoint an executor (someone who manages your estate after your death). This can be a trusted friend or family member or a professional executor such as a lawyer or accountant. Your executor will be responsible for carrying out your wishes, paying your debts and distributing your assets.
- Provide for your family: If you have children or dependents, making a will can help ensure they are provided for after your death. You can specify how your assets will be used to support your spouse, children or other dependents.
- Appoint a guardian for minors: A will allows you to appoint a guardian to care for your children if something happens to you before they reach the age of majority.
- Peace of mind: By making a will, you can have peace of mind knowing that your financial affairs will be handled according to your wishes after your death. This can provide comfort and reassurance to you and your loved ones.
While it might be one of those niggling to-do’s you just haven’t gotten to yet, making a will is important. Even if you’re not 100% clear yet how you’d like your assets distributed you can still take the first step of meeting with your lawyer to discuss the process.
If you would like to discuss the foregoing further or if you wish to obtain general information regarding your estate or incapacity planning, please contact our estate lawyers today for a free initial consultation. Sitka Law Group is conveniently located on Shelbourne Street near the intersection of the borders of Victoria, Oak Bay and Saanich.