Estate planning can seem like a daunting task at first, and you’re relatively young, so it’s the last thing on your mind. However, the truth is that you never know what’s around the corner, so it’s best to be prepared for all scenarios. Estate planning isn’t about being morbid, it’s about being ready so that you can enjoy your life.
A will is just one of several estate planning instruments, and it can do numerous things for you. Outlined below are some of the key reasons why you should consider having a will drafted on your behalf.
Ensuring your hard work benefits those you love
You’ve worked hard over the years and purchased your own home. You’ve also managed to put some savings away. If something were to happen to you, then you can’t take these assets with you. Ideally, you want those who you cherish to benefit from your hard work. A will can help make this happen. You can provide detailed instructions on how you would like your assets to be divided upon your incapacitation. Your family and friends can all receive an inheritance and providing for them will remain part of your legacy.
It’s about more than money
The division of property and assets is a large part of drafting a will, but there’s also more to it. A will allows you to nominate guardians for your minor children. So, if something were to happen to you, you can be safe in the knowledge that your children will be cared for. Importantly, you can name more than one potential guardian in case someone doesn’t feel up to the task or something happens to them.
A will can provide the above benefits and much more. To make sure you get the best out of your estate plan, make sure you seek some legal guidance.