Where there’s a will…

It’s not the most exciting of subjects to talk about in a blog post, it certainly isn’t the most pleasant. But if you own property, or if you have children, you should most certainly have made a will. The one certainty will all have in life is that we will die (unless you’re Keith Richards of course, he seems to have more lives than a cat!), and not having a will means that we can leave our loved ones in limbo. To put it simply, you need to think about what will happen to your home and worldly possessions when you are no longer around to enjoy them.

We made our wills when Joe was a few months old. Before then, it hadn’t seemed all that important, but having the responsibility of a child in our lives changed that. It was a simple and painless process and tied up all the loose ends.

Who you leave your worldly goods to is, of course, totally up to you. It could be to family or friends, a charity, or even your pet. The Law House wills and probate lawyer are experts in the field of wills and probate and have recently put together a fun infographic that explains Wills in Numbers. It looks specifically at those animals who have become very rich indeed thanks to the generosity of their doting owners. The most fascinating (and richest) example is Gunther the forth, who actually inherited a fortune from his own father (another dog obviously) Gunther the Third. I was surprised to know a dog could inherit a fortune from another dog – especially one worth £90million, especially as I’m thinking Gunther the third can’t possibly have left a will???

Although the infographic shows some people are barking when it comes to their fortunes, ultimately it is your choice who you leave everything too…unless of course, you forget to make a will. Rather than putting this off for another day, now is always a good time to get your things in order.

 

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3 Main Reasons Parents Should Draft a Will

Writing a will is something that most parents put less importance with regard to their priorities. In fact, some people don’t know that a will is an essential legal document that helps secure their children’s future as well as their entire family’s well-being. It is something that people need to prepare while they are still alive.

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As parents, you have to ensure that your children are always safe and you provide them all the things that they need all the time. Their future should be assured just in case you leave them unexpectedly. Hence, you have to draft a will with the aid of a legal expert as soon as possible.

While I was considering writing a will and testament, it was online that I found a law firm that helped me decide whether to get one. I found this site: www.challengeawillnsw.com.au, which helped me answer my questions about wills. I have yet to contact them but I have told my friends in Australia about it, and they are thinking of hiring them. If you are not living in Australia, you can find a good law firm online to help you.

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So, why do I think a will and testament is important, here are the reasons:

Children

With every parent’s life, children are the most important people to consider. This is why you have to think about their welfare at all times. You have promised a long lasting duty to support and love them, so make sure to fulfill it. In the event that you haven’t made procurement for their guardianship upon your demise, then the law and court will choose for you. And if you don’t want that to happen, simply compose a will with the goal that you can be the one to choose who will best bring up and cherish your children when you are no longer around.

Estate Taxes

It is no surprise that estate taxes eat up a portion of the cash you leave behind. The elected and state government get a bit of your money and when your estate winds up in probate court, since you didn’t leave a will, the lump taken out will be considerably higher on account of lawful expenses. Thus, make a will now to avoid other people from benefiting from it. Despite the fact that you can’t thoroughly evade the charges, you can still lessen them by placing directions in your will to concede endowments to people or place cash in trust funds.

Assets

Without a will, your assets will be isolated up with no information from you. Regardless of the possibility that you don’t have truckloads of money, your possessions will be divvied out with no respect to your desires if you do not draft a will. The probate court will utilize a pre-determined legal formula to choose who receives what and the amount they get. Try not to leave your wealth at risk. It is best to take control of what happens with your properties by understanding your last will and testament as soon as possible.

A will is a very important document to everyone, especially to all parents from across the globe. You need to guarantee your family’s welfare when something unnecessary happens to you. Therefore, writing a will lets you secure your family as well as all your properties.