How to Write a Will
Writing a Will can do many benefits for your loved family. But many people don’t like thinking of their life coming to an end very soon. Let us read below and find out the easy steps of writing a will.
1) How to Write a Will: Decide on who becomes the owner!
Writing a Will decides who owns a division of the property at home. It can be anything from personal belongings to property and will avoid any major arguments from occurring in the household to who should be the owner. If you fail to make a Will, the government will decide who should own the possessions.
2) How to Write a Will: Paying inheritance tax!
Writing a Will reduces a huge amount of inheritance tax and could even eliminate it altogether. Inheritance tax won’t be charged on everything that is given. This helps you provide extra money to people rather than paying for this tax.
3) How to Write a Will: Appointing guardians for your children!
Everyone has children and would want proper guardians taking care of them once they die. You may have children who are too young to live alone and it might not be long till your life comes to an end. This is one reason why writing a Will is very important. You can appoint guardians to care for your children once you die. If you choose not to do this, the authorities will automatically pick the guardians on your behalf. This in return may have a significant impact on your children if they are to live with the chosen guardians who might not be of yours or the children’s liking. You need to bear in mind that two guardians will become responsible for your children’s entire life. It is necessary to choose the two right guardians carefully as circumstances can change for others. It may be that the two guardians you appoint may have a bad relationship and could end up divorcing after your passing. Ask your children for suggestions on who they would love as guardians if the parent isn’t around. If your kids are too young for suggestions, ask an elderly family member. This should make your decisions easier rather than having to think several times.
4) How to Write a Will
You must note that it is not easy to write a Will though it helps your family when they become financially unstable. It is advisable to get help from a specialist when preparing your will to make sure your Will is valid by going through legal formalities. You also need two unrelated witnesses at the time of writing your Will so they too can sign the document. Choose a few executors who deal with your possessions at the time of death. By not choosing one, the state will choose a solicitor to do this for you and would charge a fee.
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