Importance of a will
A will is a legal document that explains how a person’s property are to be distributed upon that person’s death.
The will names an executor to make sure it is implemented as written down.
Originally, the will was invented to help men who died without a heir.
Check the video below for more reasons why everyone should draw a will your economic status notwithstanding.
In this YouTube video I was looking at the importance of drawing a will.
The will fulfills your wished when it comes sharing of your estate after you are dead and gone.
- It is costly
- No immediate benefits
- It is time consuming
- You will be forced to answer hard questions before drawing up a will
If you are unmarried, your property or estate may end up in the hands of elderly parents who may not be able to manage property the way you would have wished.
Lack of a will leads to costly court cases among your loved ones.
What to Remember
- Be clear – do not be vague
- select the right guardian to safeguard your wealth for your children
- Revise the will every five years
Now you know.