Do I Need a Will?

Deciding when to create one’s will is a source of stress for many of us because it forces us to face death in an unpleasant way. We all know that we are going to die someday and having a will allows us to determine exactly what will happen to our worldly possessions when we pass on.

Last Will and Testament (Image: Flickr)

Ideally, everyone should have a will. Otherwise, the state will divide your assets in a way that may or may not be in line with your desires on how your possessions be divided. Making a will is especially important if you have no clear heirs because in that case, the state will end up taking your estate.

Although creating a will may be more urgent for those who are afflicted with medical conditions that may or may not result in death, even healthy people should consider drafting their will and updating it regularly. Parents who still have young children should be especially interested in creating their will because it allows them to decide who will take care of their children.

The laws regarding succession of properties for married couples are sometimes vague. For example, if one spouse dies, the other spouse only receives a portion of the estate and the children receive the rest. This may come as a surprise to a spouse with young children who would need to use his or her spouse’s estate to help raise the children.

Basically, a will allows you to have control over what happens to your possessions and your family after you die. There are hardly any reasons to avoid making a will, besides the obvious discomfort in doing so, while the benefits certainly make up for it.