I’m not sure why talking about Will Writing can be an uncomfortable topic, but death does happen, and it can take a significant toll towards your loved ones.
Honestly, It takes a long time for me executing a WILL. I know, it’s essential, but it’s just too many works, procrastinates kicks in, and everything is history.
My husband, David is a man that feels responsibility entirely towards his family. He is a family man and needs to make sure that we, his family will be taking care off if he is no longer around. So, it’s his ideas, and something that he has pushes me for years now.
So, a couple of weeks ago we met and engaged a lawyer to handle on the Will Writing. It was not as troublesome as I think it will be but it pushes me digging up lots of old documents, providing some numbers and assets to the lawyer.
While I make my own excel format to give to the lawyer. The list included all the property, cash, assets and bank accounts to the beneficiary. You will need to appoint an executor too. So, yes. It can be messy or a headache to decide who owns what when we’re not around.
1. To make a difficult time less difficult for your family.
Losing someone you loved, can be one of the most excruciating experience for most people. So, it will help them in that painful moment to know that at least the WILL will take care their days without you.
2. To prevent your loved ones and family from fighting
According to the law, if you don’t have a WILL. The assets will be divided to 1/4 Spouse, 1/4 Parents and 1/2 to Children.
If a person dies leaving no parents, spouse, and children, his estate will go to the following persons in order of priority:
(a) his brothers and sisters
(b) his grandparents
(c) his uncles and aunts
(d) his great grandparents
(e) his great-granduncle and grandaunts
Honestly, not everyone has a lovey-dovey family; people tend to fight over money. Feud over money in the family is not something new. Prevention is better than cure. Plan ahead.
3. It’s Not Expensive!
The cost of executing a WILL can be easily around RM1,000 to depending how complicated your WILL will be.
You can get a lawyer, a will writing agent like Rockwills or if you know the way, you can do it yourself! However, it will be best for the first WILL to engage a professional to do it.
If you don’t have a Last will, the Government makes one for you. That means your assets and estate are distributed according to the laws. Generally, this means the government will split your belonging between your next of kin, spouse, and children. But who gets what? And who has to deal with actually distributing your assets?
If you don’t make a Will during your life, the rules in your country make these decisions for you. The decision that should be made by you and you alone.
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