Creating a will is essential to ensure that your wishes are carried out after your passing. Here are five reasons why making a New Year’s resolution to create a will is a great decision.
1. Protect your loved ones
A will allows you to clearly outline how you want your assets to be distributed among your family members, friends and other beneficiaries. This helps prevent potential conflicts and ensure your loved ones are taken care of according to your wishes.
2. Nominate guardians for minor children
If you have young children, a will enables you to designate a guardian to care for them in the event of your passing. Without a will, a court may appoint a guardian without considering your preferences or the best interests of your children.
3. Avoid family disputes
Clear instructions in a will can help prevent disputes among family members regarding the distribution of assets. This helps reduce the likelihood of disagreements and legal battles which can put a strain on relationships during a challenging time.
4. Express specific wishes
Having a will in place allows you to express specific wishes regarding sentimental or valuable items, such as heirlooms, family artifacts and special gifts. You can ensure your personal belongings are passed on to the individuals you would like them to go to.
5. Create a legacy
Giving a gift in your Will allows you to build a legacy for future generations through sustainable investing and creating a giving Fund for your future that your children and grandchildren can be proud of. You can write a free will online with Gathered Here, Australia’s most trusted end-of-life services site in under 15 minutes.
For more information about creating a Will and leaving a bequest with Sydney Community Foundation click here.