3 Reasons why you need a will
Do you have your last will and testament in place? Chances are if you are still young, unattached, living by yourself and generally enjoying a carefree lifestyle, it's not very high on your list of must-deal-with priorities. In fact, it might not even be on your radar at all.
Most of us only start worrying about this kind of paperwork once we've walked down the aisle, ducked the confetti, and settled down to raise some kids and/or fur babies. However, you should ideally have your will sorted even before then, for a number of important reasons. This includes the following;
It states what should happen if you get seriously ill or injured
None of us like to imagine that we will get very sick, or be involved in a serious accident that might leave us on life support. However, it does happen, and for the sake of your loved ones, you need to be prepared by providing them with clear instructions on what should happen in a case like this. This is why a person’s last will and testament includes a portion on their wishes in the event that they should be permanently incapacitated without the hope of getting well. For instance, it may say that you do not want to be kept alive artificially beyond a certain time span, and that you want to donate your organs if you should pass.
It can be very difficult for a parent or loved one to make decisions like this on your behalf when you are unable to speak for yourself, so it really makes things easier on the people you love if you put it down on paper beforehand.
It plans for the care of your dependents
This includes pets! Even if you don’t have any children, you may still want to have a say in what happens to your pets, and who will care for them if you are no longer around to do so yourself. Naturally, it becomes a bit more involved when you have children, but the same principle applies – if you don’t have a will in place to say what happens, it can become quite complicated for the people you leave behind.
It ensures that your stuff goes where you want it to
This is perhaps the most basic function of a will. In its essence, your will states who gets what, and if you pass without one the state will normally divide your belongings among your parents, sibling and other family members. This also takes a really long time if you don't have it down on paper. So if you want your small-but-valuable art collection to go to your friend, or donate a portion of your estate (however small) to a charity of your choice, you need your will to say so. There you have it – three reasons why you need a will, even if you aren’t hitched or have any dependents at the moment.
There you have it – three reasons why you need a will, even if you aren’t hitched or have any dependents at the moment.
GET FREE ADVICE ABOUT YOUR WILL
Feel free to reach out to a member of the Libertine Consultants team if you want to discuss your options for your will. We are offering FREE consultations via WhatsApp videocall, Zoom and Google Meets throughout the month of March.
Additionally, we are offering 10% off all credit clearance services, and FREE consultations to discuss financial management options via WhatsApp videocall, Zoom and Google Meets.
