We know, it’s boring adult stuff that you’d rather not have to think about but having a will can save a lot of long-term trouble for your family when you pass away. You may be wondering why you even need to have a will in the first place. That’s why we’ve compiled 7 reasons why you should have a will.

1. If you DO NOT have a VALID and LEGAL will, the LAW gets to decide what happens with your assets

When you have a valid and legal will, you get to say exactly what happens to all your assets.

I don’t know about you, but I’d rather decide what happens with my assets instead of letting some stranger decide for me!

2. Direct how you want your assets to be shared

Your will should clearly define how you want your assets to be shared. You can list specific items be gifted to a particular individual or you can ask that everything be sold and divided amongst specific individuals in your family. No matter how you’d like your assets shared, you can detail it all in your will. This can ensure that nothing is left to interpretation.

3. Decide who will take care of your young children and/or pets

If you were to die before your children become adults, you would want to be sure your children and your furbabies are taken care of. That’s another reason why you should have a will. In your will, you can clearly state who will be responsible for your children/pets in the event of your death. This can avoid needing to get child services involved and minimise any further stress on your family.

4. Give instructions for your funeral

Do you want to be buried or cremated? Do you want your ashes scattered somewhere? Do you want a headstone somewhere? Do you want a fancy coffin or something cheap and cheerful? Do you want specific songs played or poems read? Do you want an open or closed casket? There are lots of decisions to be made when it comes to funeral arrangements which can be extremely difficult for grieving family members. That’s another reason why you should have a will. In your will, you can state your wishes around these decisions and make life a little easier for your loved ones. 

5. Gift certain items to specific people and/or support your favourite charity

Have you got a particular item that you really want to leave to a friend or family member? Have you got a favourite charity that you’d like to donate something to after you pass away? This is something else you can detail in your will. It’s a great way to ensure those that were special to you are acknowledged and avoid squabbles over your property.

6. Decide who will manage your estate and avoid family disputes

In your will, you will be required to appoint an executor. This is someone responsible for managing your estate and ensuring your wishes are fulfilled after you have passed away. You will choose who you want that person(s) to be (for more info on how to choose this person this is a great article to read). Clearly defining your wishes in your will can help to avoid family disputes and unnecessary drama at what is already a time of heightened emotion.

7. Ensure any outstanding debts are satisfied/covered so as not to pass these onto your surviving family/beneficiaries. 

If you have outstanding debts when you pass away, the last thing you want is your family to become responsible for them. That’s another reason why you should have a will. You can outline that all debts and expenses are to be paid out of the estate before anything is divided amongst your beneficiaries. This way, you don’t leave your loved ones with unexpected bills they weren’t accounting for.

Conclusion

The truth is, none of us truly know when our time is up and dying without a legal and valid will can cause your loved ones distress, heartache and legal issues. It can also mean that your wishes are not fulfilled. If you think it’s time you created a will or refreshed your old one, book your no-obligation Wills and Estates chat with us now.