Top 5 Reasons to Have a Will
Top 5 Reasons to Have
a Will
Yes, we know – sometimes it seems a bit morbid to start talking about
wills, especially if you’re no way near slowing down in life. But we are also
aware that life is unpredictable and scary. It pays to discuss potential
planning for your will, no matter what your age is, and it might give you
confidence in knowing that your finances will be taken care of if the worst
happens. We’ve given five quick reasons that a will should be something that
you think about.
1. The decision is in your hands
You will oversee how your wealth is distributed and determine how your money is
handled after your death. Without a will, it can add confusion and concern to
family members anguish when they must discuss the difficult topic of money.
Determining the who, what and when of your finances will help the grieving
process for your loved ones by taking a weight off their minds.
2. Gifts and donations
In a similar sense to the last point, you can choose to donate money to
people or charities as part of your last wishes, meaning you can help people
who need it most. Not everyone will want to give to charity, but it can be a
good way to help distribute excess cash if you are fortunate enough to have it
and want to share.
3. Naming your children’s guardian
This is vital if you have young children who will be left without you if
you pass away. Whilst it is unlikely, fortunately, that many will have to go
through this, it is so important that this is decided. God parents may be seen
by some as a viable route, but this is not a legally binding contract, where as
a will is.
4. Plan for your children’s financial
future
You will be also be helping your children out financially if you choose to
arrange that they receive your estate. Once again, hopefully this is not
something which will happen anytime soon, but you could change your children’s
lives by ensuring that they gain ownership of your finances when you die. Most
parents would feel a real comfort knowing they could help their children out if
the worst happens.
5. You’re not always in charge of your
own destiny
Unfortunately, as we stated at the beginning of this post, you may not know
what will happen tomorrow. Life isn’t always as predictable as we might like it
to be, so we would recommend early planning to give you time to prioritise who
and what you want to help when you pass away. Added stress to your family
members is something which we are sure everyone would like to avoid, and controlling
your finances before your death is the best way to do it.
If you’d like help with doing this, or you’d like to find out how McVeigh
Financial Services can help you, get in touch here…
