Why It Is Essential To Make A Will
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Division of your assets as per your wish
If you die without a Will, the law of the land will decide what happens to your property, money, and other possessions. This decision may not be in accordance to how you might wish your movable and immovable assets to be distributed among your heirs. Having a Will in place is the only way through which you can become certain about your money and estate distribution after your death.
Hassle-free distribution of money and property
In the absence of a Will, it can be a time-consuming and stressful procedure for your legal heirs to sort out the property distribution matter. Your heirs may have to face additional complications when the law starts following its own course. According to Brighton Wills (https://www.brightonwills.co.uk), most people aren’t prepared legally for the unexpected loss of a loved one. Having a Will or power of attorney in place makes the legal process that much smoother.
Reduced burden of Inheritance Tax
You have worked hard to build the assets that you would like to leave behind for your dear ones so that they can lead a comfortable life. Would you want them to pay hefty Inheritance Tax on the possessions you are leaving behind as a gift for them? If you do not make a Will, your heirs may have to pay a huge tax for these gifts. A Will can help to decrease the Inheritance Tax that they may have to pay otherwise.
Proper care of dependants
There may be people in your life who are not your legal heirs and yet you want to leave something for them. Or, you may have extended family members or children who depend on you financially. Such people may not be able to claim anything from your possessions if the law takes matters into its own hands. To make sure that your loved ones or dependents do not suffer after your death, writing a Will is the best way out.
Legal guardian for minor children
In case of the death of both the parents, a Will can act as the guiding document for the minor children and their guardian. You wouldn’t want your children to suffer if they are left alone on this earth. Your Will can make sure that they are well-provided for.