10 Reasons Why You Need a Will Today.

One interesting fact of life is that, many of us are aware of the importance of making a will but very few people have wills. We do not make wills because we associate making of wills with the elderly; we assume we are forever 21! Most of us are uncomfortable dealing with the subject of death and procrastination, ever the thief of time, keep us putting off making our wills and never get round to doing it till the inevitable happens.

The good news is that, there are numerous reasons why you should make a will. 10 advantages one gets from making a will are as follows.

  1. You choose who you want to inherit or benefit from your property when you are no more. Since the will covers your self-acquired property, you will be able to control and determine which property of yours should be given to which particular individuals when you die. If you do not make a will and you die, PNDC Law 111 (the law on intestate succession) is the law that will be used to determine who gets a share in your properties for example, your spouse, children, parents, customary successor and so on. You will not have any control over who enjoys the property you toiled to acquire in your life time.
  2. You choose who you want to take charge of your properties and your family when you die, that is, the executors. Your executor can be a friend, relative or a professional such as a lawyer.
  3. When you make a will, it reduces potential disputes after your death. Once you name the executors and beneficiaries of your estate in your will, there is little or no chance whatsoever for any person to create problems in your absence.
  4. Also, you are able to give some property or things to persons other than family members; for example, dedicated house helps, drivers, employees, grandchildren, nieces, nephews, friends and confidantes. If you die without a will, PNDCL 111 will not recognize these category of persons as beneficiaries under law.
  5. You can create a trust in your will and choose an adult as a trustee to manage any money and/or property your children may inherit from you.
  6. If you own a business or you are a shareholder of a company, your executors will step into your shoes as shareholder. You can give them directions on what they should do with your interest in the company after your death.
  7. Making a will shows how much you love and cherish your loved ones; you save your family, friends and loved ones a lot of trouble. The process in[1]volved in taking Letters of Administration to gather in and share the assets of a person who dies without making a will can be tedious, time[1]consuming, energy-sapping and an emotional affair.
  8. You learn to keep a tab on your assets and liabilities when you make a will. Once you have given your assets to some people in your will, you tend to protect such assets very well. You also minimize your liabilities since, upon your death, your liabilities would be paid off first before the remaining assets are distributed to the beneficiaries.
  9. Once you make a will, you can make your end-of-life wishes known regarding organ and body donation, whether you want burial or cremation, and even the type of cemetery you prefer; Gethsemane Gardens, Transitions, Osu, Tafo or your hometown. You can choose whether your family should accept “adesiede3”, wreaths, donations, tributes, etc.
  10. You feel confident about yourself when you make a will. It is a very liberating experience. You have your peace of mind to enjoy life with less worries about the future.

So, no more procrastination! Contact your lawyer and prepare your will today for a happier tomorrow!!

ABOUT THE WRITER

Francisca Serwaa Boateng is the Founder & Managing Counsel of FSB Law Consult.

Contact: francisca@fsblawconsult.com | Tel: 0302818433/0208195042 | www.fsblawconsult.com

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