If you write a Will, you decide what happens to your assets. You’ll decide what relatives inherit, what children get the lion’s share of the estate and ensure that funds are available for aging loved ones. Without a Will, those options become much more complicated.
If you have children under adult age, and pass away without a guardian appointed, the court will step in and appoint one for you. It’s much better to have a say in a decision like that, as opposed to leaving it up to your relatives to hash it out.Estate administration can be complicated and a good deal of money may be at stake, to pay taxes and to pay beneficiaries. If you write a Will, you can appoint a person you trust to make decisions. If you don’t have a Will, the court will appoint a relative who is on the permitted list, who you may not like or trust.
With estate planning, one thing isclear. You can make sure things go the way you want them to by taking the initiative. It doesn’t matter if you’re too young to die, or it’s too early to think about it. It’s always the wrong time until one day it’s too late. Taking the time to plan and leaving clear directions eases the burden on the loved ones you leave behind.