You would probably wonder why a will is so important. Well, it resolves issues and stops any complications from arising. A properly executed will can forgive debts, transfer property and so much more. Usually, this would be in the form of a typewritten document that has been signed and witnessed. But in some countries and states, there can be different forms of wills that will be held valid in court too. If you are still thinking whether or not you should have a will, here are some very good reasons to go ahead and get it done.
It Can Help Prevent Intestate Succession By Law
If you are deceased and you have not left a will behind, or any other kind of estate plan there is something called intestate succession law that will determine which of your family members will inherit the property that you left behind. It will also determine the proportions that each of them will receive. In the majority of the cases your spouse and kids or if they are not available, your parents will get the best benefit of this law. However, it is also true that most people would want to have their properties distributed somewhat differently to how the state will do it. You may have an unmarried partner, friend or organization that you would like to give a portion of your property too and the law will leave no room for any of that. Based on where your property is, for example, look up family lawyers Sydney so they will help you put together a will that is valid in court even if contested. This can solve a lot of issues, prevent stress and any clashes from happening after you are gone.
It Will Help Reduce Family Conflicts
Death is a hard truth for anybody and it naturally comes with a lot of complicated emotions. In such sensitive situations, even the tiniest blip of an issue can become really big and aggravating. Therefore in most cases, after a person has passed away there are a lot of complications when it comes to inheriting his or her property left behind. If you have an unmarried partner especially or if you have kids from a marriage before, these issues tend to get even more complicated. If you do not wish for your family or friends to be stressed and create issues between themselves, you should create a solid will that is fair in your eyes and that nobody can contest.
You Decide Who Will Look After Young Children
If you have children who are still minors it is essential that you allocate somebody whom you trust to become their guardian should you pass away. While it can be really challenging to envision your own demise it is something you should do for the benefit of your kids. If not the state will take it upon itself to assign somebody that they think is right and this might not be the best decision for the children.