05 Jun Why you should prepare a will
Thinking about our own death is never a pleasant thing to do. But the alternative – not making any arrangements at all – can be disastrous.
We have all heard of widows who were overwhelmed by bill collectors and who spent years in probate court, sorting out who got what. Some unscrupulous folks even claim to be owed money and demand payment. Add to that unpaid mortgages, credit card debt, and the costs of a funeral, and an untimely death can mean a lot of hardship for our family.
While none of us wants to focus on the negative things of life, we have to accept the reality that accidents do happen and that it is the wise person who prepares for the unexpected. That in mind, here are some simple tips for preparing a will to reduce as far as possible any suffering that your family might experience:
- Consult a lawyer to make sure your will can be accepted without question
- Appoint an executer to carry out the details of the will and sign it in the presence of witnesses
- Do not store your will in a safe deposit box, as getting permission to open one is time-consuming
- Make sure the executor has access to other important documents, including marriage and birth certificates
- Don’t forget about charity
A will is a very important document and can carry on your legacy long after you are gone. Preparing for the unexpected is part of being a responsible person.