Why is it Important to Have a Valid Will?
For most of us, the topic of death is something we do not want to think about and unfortunately can take place at any time and age. For this reason, it is important you plan for what will happen after your death, whether you own a small property or an empire of properties. A Will is a legal document that contains the wishes of a person as regards sharing of their property the way they want after their passing.
What makes a Will valid?
A Will is generally considered to be valid if it is
- Signed by you in the presence of 2 witnesses; and also
- Signed by the two witnesses
Reasons to have a valid Will
There are several reasons why it is important you have a valid Will. The main reason being to ensure the distribution of your property is carried out the way you want after you are dead. It would naturally be in your interest and those of the would-be beneficiaries to have a valid Will in place, even if the rules of intestacy seem to work in your favour anyway.
Having a valid, updated Will can:
- Save your family from a great deal of stress and worry after your passing
- Help during the arrangements for your funeral expenses
- Help to nominate a guardian for minors
- Limit the costs in administering your Estate
Without a valid Will, there may be crisis of who gets what after your death.
Creating a valid Will
To be able to create a valid Will, you must be at least 18 years of age and be mentally stable. Your wishes must be documented and signed with witnesses. However, you need to be careful while writing your own will as a little mistake can make it become nothing but a worthless paper. That’s why having an lawyer to assist during the process can help to ensure you are not missing anything.