Will Drafting
Why is a Will Writing Important?
Without a valid Will, the distribution of your assets will be according to the rules of intestacy – not according to your wishes.
You will be decision maker for your own assets and can make arrangements for married daughters, friends, lifelong worker or charity
If you have a child or children, a valid Will is necessary to make arrangements for the children should the parents die, it is extremely important to have a Will in place if the children are under 18 and would need someone to look after their inheritance or to have a guardian appointed for them.
A Will may & reduce family conflicts in future, if any.
The most important thing about a Will is that it leaves comprehensible and explicit instructions about the deceased’s property and estate.
A Will specifies the inheritor of each share of the property and lessens the scope of any confusion that might arise in future. It therefore helps in mitigating family disputes.
A person making a Will creates a safety garb for his /her minor children. He /She can appoint a guardian of his /her choice and also make any financial arrangements for them.
A Will can be instrumental in protecting one’s business. One can pass on their company and power of attorney to one’s preferred heirs thereby reducing friction in business ventures.
A Will may not only specify the inheritance in favour of friends and family members but may also include a charity or transfer to any other organisation.
The best thing about a Will is that it is not an irrevocable instrument. A Will can be revoked during the lifetime of the testator. A Will can also be modified. If circumstances change and the testator become dissatisfied with the behaviour of any of his relatives, he can exclude his name from his Will.
