Top 7 Things To Know Before Writing Your Will
Writing Your Will: You may come across many people in your life who have spent eons without writing a will. Some people may go out on a vacation and suddenly remember that they haven’t written a will. One should always sit down with a professional and expert lawyer to ratify their wishes for their children. Writing a will is an exercise that very few people go through. A recent survey conducted on this topic depicted that most Canadians do not own a will. Now you must be thinking why needing a will has suddenly turned so important. Well, you will find out in this blog the seven things you should before writing a will.
1. Why are a will and testament necessary?
Life is too unfortunate. We think we have time but in reality, we don’t. We are so involved in our personal and professional lives that we hardly think about death. Most particularly, because we think we are young and healthy and there’s a lot of time ahead of us to write that will. But in real life, if you don’t have a legal will, your dear ones would have to go through the trouble of figuring out what they should do according to your preferences. The worst part here is that the children may not get the chance to make a decision because the law takes away the decision making power from their hands. If you haven’t written a will and testament, the law in whatever territory or province you are living in can decide how they should divide your assets. Maybe your spouse can be left with nothing.
2. How much does a will cost?
The cost of the will depends solely on the province you live in and also on the individual lawyer. Some may charge up to 800$ for a couple or up to 500$ for a will. The advantage of having a professional lawyer write up your will is that they will help you clearly in expressing your wishes. For instance, if you have left some jewelry to your sister or your daughter, does that mean that she will get items that are less or more then 20 years old? We have to be clear in writing a will and having a lawyer on-board can help us do that properly.
3. Can you write your will on paper?
Suppose you are going to attend that important business meeting or going on a vacation and you decide to write your will at short notice, you have to make sure that you revise it upon your return. In this fast-paced world, the fixes made temporarily can become the most permanent some times. If it is possible for you, you should visit the lawyer as quickly as you can.
4. Things to cover in your will
First and foremost, you will have the name of a guardian for the kids. You should be particular about what to do with your goods and you should also mention the name of a backup or an executor who will be responsible for carrying out all the instructions you have made.
5. How to pick a Guardian?
Your guardian should be the one who shares the same values as yours, who are of the appropriate age and maturity. You must also take into consideration the lifestyle of the guardians and what will happen in case they decide to be separated.
6. How to pick an Executor?
For an executor, you should pick someone who is your blood relative. That way, you would have allotted the responsibilities of a guardian to someone else and of an executor to someone else maintaining a safe balance.
7. Make sure the person you choose is willing to take the lead
Just because someone is your blood relative does not necessarily mean that they will play the role of a guardian or an executor willingly. You should ask them first. Maybe they are going through something and have a ton of emotional and financial load of their own. Pick your people wisely.
If you are thinking to write a will but you don’t have time, you can contact the will writing services in Dubai or get the essay help UAE to get your will written in no time.