Having a will while you are alive is pivotal to any individual as it enables you to value the kin by providing them with formulae that will determine who will own what in your properties and it enables avoidance of chaos and family disputes resulting in fighting for such properties.
The most vital mistake that people make is not drafting and tabling their wills before they die and this is not good because you may think your intention of whom to share what was known only for the family to lack direction on how to share the properties and this can lead to massive wastage, killing of each other and unending battles in courts.
Another mistake that comes with lack with will in your family is that your family and children won’t have a guardian that you may prefer in case you die and this is common for parents to die and leave children as orphans with no guardian meaning they will need to undergo lasting court sessions to determine the guardians to the children.
Moreover, the estate planning may have not been reviewed and revisited for the last few years meaning there are new acquisitions like pets, plots, lands and cars that you have not included and updated their kin meaning you will leave the family in jeopardy and will have to fight it out in courts to have the items shared that can be against your wishes.
It’s essential to include in your will the best kin that will take care of your property and you when you are in dementia, insane of become incapacitated due to various factors to avoid cases of your properties being given to a solicitor of controller that will guard them until your family can maker uniform decision on the same.
To add it up, there are numerous people that disregard the power of life insurance cover in their wills that means their family or relatives won’t have access to the cash that is paid and would need to apply for the same that can take years to be granted and so, enshrine such details for they will enable your vales to be paid to your family and be free from taxation by the state.
In case you have already laid out perfect plan as to how you will want burial and death to be handled, it’s essential to include it in your will such that the family and other people that will be working on your will can find it and do accordance to your will, but when you don’t attach such details, there may be no elaborate plans as to how you wanted your death to be handled.