Introduction
Undeniably, money and property matters are the biggest dividers in life. Moreso when the need to acquire or sustain a good lifestyle is majority’s mantra. Petty fights, squabbles, conflicts, disputes to the extent that people indulge in unnecessary litigation for a claim on other’s property are becoming the order of the day. Families fall apart when either a parent dies or a senior most member of the clan expires. Relationships crumble when authority in family changes. And money does play a major role, specially the property which was till then under the care and ownership of the demised soul. So why make a Will? Or better still, why not make a Will to prevent conflicts in future?
Purpose of making a Will
You should prepare a Will if you care for your property, your family, your children or relatives or people who care for you. Your physical presence howsoever comforting and assuring for them should not deter you from foreseeing the scenario after your death.
Your Will can help prevent future mishaps in relationships provided you have the foresight to visualize the developing picture based on past and present circumstances, including the quality of relationships your legal heirs, other family members, friends, etc. share amongst themselves.
Benefits of making a Will
- Gives you peace of mind with no cause for worry about your assets going into wrong hands.
- Reduces worry and stress for people you leave behind.
- Reduces likelihood of family disagreements on matters related to ownership of your assets.
- Allows you to dispose your property as per your wishes instead of falling back on inheritance laws.
- Enables you to create future provisions for your dependents like disabled children, widowed daughter or an invalid parent who may otherwise lack resources for sustaining themselves after your death.
- Helps you record your funeral wishes (if any) – the cremation or burial procedure as per your wish.
- Make provision for and acknowledge service rendered by a faithful servant or a care-provider or a friend.
- Create a Trust
- Appoint guardianship for your minor children or guardianship for property of minor children.