Law & Legal & Attorney Wills & trusts

The Top Reasons Why You Need a Will

A will is a document by which a person called the testator articulates the proper settlement of his or her estate upon his or her demise.
Such a person puts upon himself or herself the burden of actually regulating the rights of persons and specifying the things he or she would want to be accomplished with regards to the properties and persons that would be left behind when he or she dies.
Creating a will is clearly intended for the proper disposal of properties and assets and the payment of personal liabilities.
It is necessary that you specify how you would want your liabilities to be paid so that your creditors cannot run after properties that you would rather dispose of differently.
A testator is the person who makes the will and signs it.
A testator appoints an executor who will accomplish his or her wishes as specified in the document.
By providing an executor, the testator prevents the type of confusion among family members who may think they should be the one to manage the estate.
Creating a will is a way to ensure that persons you care for like young children are properly taken care of.
One appoints a guardian to look over the children and be their parent until the time they can have full access to their inheritance and are capable to lead their own lives.
A testator could also appoint an alternative guardian should the first guardian cannot execute such a function.
Choosing a guardian is a crucial task because he or she will help shape the kind of lives that the children will eventually have.
A friend, a couple and a family member could be appointed as guardians.
A letter describing how you would want your children to be raised by a guardian can be attached to the document to give him or her the idea how you would want your children to become.
Unnecessary family disputes over money and properties that strain good family relations are avoided by creating a will.
Your properties will be divided accordingly as how you would want them to be.
It is a guarantee to all your close friends and relatives that they will have a part to what you have left behind.

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