Is It Necessary to Make a Last Will and Testament

Though, making a will is important, you are not really required to make a Last Will and Testament but it is most certainly something that you must do. Creating a well thought out will is a great way of working out some individual responsibilities by taking control for what happens to your property, real estate, assets and, in few cases, children after your death.

A lot of people feel that they are not required to make a Last will and Testament. Although, whether you are a person of very modest means or someone with a lot of property to distribute, writing a last will can be a great idea.

There are a lot of benefits of making a will. In particular, a Last Will:

  • Via simple instructions, it allows you to dictate, how you want your debts settled, who will pay inheritance tax and how your assets will be distributed after your death
  • It allows one to select a representative to wind up your affairs
  • It helps one to appoint guardians to take care of kids after your death
  • It allows one to make property management arrangements to cater for young beneficiaries who shall inherit your property after few years

Apart from the aforementioned, a well thought out will gives peace of mind. If you are above 18 years and have even minor assets, the time is right to make a will.  You may also take help of professional service providers in making a will to avoid many hassles.

Filed under  //   Inheritance Tax   Making A Will  

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