Death is not a very pleasant thing to think about, especially when it happens to be our own death that we are thinking about. However death is something that every single person has to go through at some point in their life. Unfortunately we are not immortal and we certainly aren’t bullet proof.
It is important for us to make sure that we take the time to properly document our wishes in our will. If you do not have a will, now is the time to write one because if you die without a will, it will be up to the courts to decide what to do with all your stuff.
For those of you out there who don’t know what a will is, let me explain. A will is a written document which contains your instructions and wishes as to how you would like to have your property and assets to be divided in the event of your death.
Most people generally do not even begin to consider making a will for themselves until they get to an age where they think their death is fast approaching.This is a very common mistake that people make, they assume that because they are healthy and young, they won’t need a will just yet.
However this is definitely something that they are taking for granted, unless you are physic, you can’t possibly know when you are going to die. That is why it is so important for you to write out a will for yourself as soon as you possibly can.
Although younger people tend to have less in the property and asset department, they too still have the right to make a will, in fact if they own anything that they would like to leave behind for a family member or friend, they need to make a will or else as I mentioned before the courts will decided what to do with them.
To make sure that you understand what a will is, I have decided to give a slightly more detailed look at what a will is, as well as what you need to include to make sure that your will is considered legal and acceptable by the courts.
A will is a document, in writing and signed in compliance with the formalities covered by legislation. It is a legal document that contains all the names of the people you would like to benefit in the even of your death.
A will should include a detailed list of all of your possessions, property and assets, basically anything that you own. Your property and possessions can include a lot of different things so I have taken the liberty of including a list of such items.
Your home, and any land that you might own, any money in your bank account, benefits from insurance policies,your furniture, investments or shares, are just a few to be named. Personal jewelry, artwork, pictures, CD, movies and books, are all included as your property, so it is important to document all of them.
Making a will is the only way to ensure that your property is given to the people that you want it to be given to. If you pass away without one, you are then considered ‘Interstat’ and that means that it then falls upon the courts to decide what to do with all of the afore mentioned properties.
In order for a will to be considered valid by the courts, your will must be written, submitting anything else would be a waste of time as it would then be considered void. You also need to make sure that the signing of your will is witnessed by at least 2 people.
The people that you choose to witness the signing will need to acknowledge that they were present when they signed their names as well. Once you have completed your will it will be up to you to update it with any new properties or assets you may acquire.