No one wants to think about death, but the truth is that it’s a part of life. Eventually, we all have to face the fact that we will die someday. When that time comes, do you want your loved ones to go through the hassle and expense of sorting through your estate? Probably not. That’s why it’s important to write a will – so you can make sure your wishes are carried out after you’re gone. In this blog post, we will discuss when to write a will and what should be included in it.
Everyone Should Have a Will
This is one of the most common misconceptions about wills. People think that only rich people need them, but that’s not true. Even if you don’t have a lot of possessions, it’s still important to have a will. This document can designate guardians for your minor children, and it can make sure your belongings go to the people you want them to. You can also use a will to set up a trust, which can be used to provide for your loved ones after you’re gone.
Why is it so Important to Have a Will?
If you die without a will, your assets will be distributed according to your state’s laws of intestate succession. This means that your possessions may not go to the people you intended, creating a lot of hardship for your loved ones. In addition, if you have minor children, the court will decide who their guardian will be.
If you don’t have a will, now is the time to write one. A will gives you the ability to control what happens to your assets after you die, and it can provide peace of mind for you and your loved ones. It’s an important step in ensuring that your wishes are carried out after you’re gone.
The Perfect Time to Write a Will
If you’re wondering when the best time to begin the will-writing process is, here are six life events that provide excellent reasons and may give you the nudge you need to get started:
You’ve turned 18
The moment you turn 18, you are legally considered an adult in the eyes of the law. This means that you can now make your own decisions about your life and future. If you don’t have a will, now is the time to write one. It’s an important step in ensuring that your wishes are carried out after you’re gone.
You have married or divorced
If you’ve recently tied the knot or ended a marriage, updating your will to reflect your current situation is important. Marriage usually invalidates any previous wills, so if you don’t have a new one in place, your spouse won’t inherit anything from you. And if you’re getting divorced, you’ll need to completely remove your ex-partner from your will. Otherwise, they could still end up inheriting some of your assets.
You have children (or expecting a baby)
If you have children, it’s crucial to have a will in place. You’ll need to appoint a legal guardian for your kids if something happens to you. Without a will, the court will decide who takes care of your children – and it may not be who you would choose. If you’re expecting a baby, it’s good to write one as soon as possible after your child is born.
Your financial circumstances have changed
You may have Inherited money, Inherited property, Bought a property, Sold a property, Been promoted (or had a pay rise), or Started your own business. It’s important to think about protecting your finances if you have financially gained from any of the above. So that they do not fall into the wrong hands in the event of your death.
You should write a will if you have any special wishes for your funeral or burial.
If you have any special wishes for your funeral or burial, it’s important to make these known in your will. This can include specifying which funeral home you would like to use, whether you would like to be cremated or buried, and where you would like your final resting place to be.
You want to pass on specific gifts to specific people
If you have specific gifts that you want to pass on to specific people, you’ll need to include these in your will. This can be things like jewelry, heirlooms, and other sentimental items. You’ll need to include the recipient’s name and a description of the item for them to receive it.
A Lawyer Can Help You With the Process of Writing Your Will.
While there is no legal requirement to have a will, it is still an important document to have, especially if you have assets or children. A will can help ensure that your wishes are carried out after you. It can help prevent disputes among your loved ones. If you’re not sure when or how to write a will, consider talking to a lawyer. They can help you with the process and answer any questions you may have.
You can contact us at Saanichton Law Group for assistance with writing your will. We have experience handling estate planning matters and can provide you with the guidance you need to ensure that your wishes are carried out after you die. We understand that this can be a difficult process. But we will be there every step of the way to help you through it. Give us a call at250.544.0727 today to get started.
