Like most legal documents, the importance of a will increases with its acceptance with authorities. Making a will is a complete legal procedure and its advantages are many which make the preparation imperative on the part of the owner. But the legal responsibility for making a will shouldn’t be taken in a negative light and procrastinated about. Instead the very advantages of making a will could be the single greatest catalyst for the preparation of a will by the owner of the assets. Below are a few of the major advantages of making a will that could be the catalyst for the owner to prepare it.
Also we would like to state that people rarely find making a will to be a pleasant task. Preparing a will is a metaphor for our own mortality which people don’t want to face. But as they say- No one escapes death and taxes! Who knows? You could compromise with your own mortal end during the preparation and come out with a better view on life.
The advantages of a will are:
1- No dispute between dependants: there can be any chance of any conflict or dispute between the several dependants of the property if a will is already made. The will perfectly sums up what is left to whom and that itself diffuses any chance of conflict plus the division is also ensured by law of the land. Without a will, inheritance disputes often run into years and decades and are not a viable option.
2- Lack of ambiguity: A will is a legal document that clearly states the division of the property and that in itself clearly puts out the lack of ambiguity.
3- Property Management: The property can now be easily managed or divided according to the directions given in the will and that leads to a better sense of property management.
4- Appointment of care-taker or trustee: Will often appoint a responsible person as a care taker or a trustee who acts as the overseer of the property. This occurs when the beneficiary is a minor or of unsound mind and cannot look after the assets.
5- Disclosure: All the property hidden or otherwise has to be correctly shown while making a will. This procedure eliminates the chances of any secretive assets and the process will be highly beneficial to the beneficiaries of the will.
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