It's never nice to think about death and what will happen when you're gone, but it is important to have a plan mapped out in case a tragedy occurs. This begins with making sure your will is in order.
However, more than 50 per cent of Australians do not have a valid will, according to the Australian Bureau of Statistics. Let's be part of the percentage that do have their future mapped out by making the small step in creating a will. It's easier than you think and can save so much hardship for the ones you love.
Writing a will is a perfect way to make sure that everything you worked so hard for is suitably dealt with when you pass away. Instead of putting it to the back of your mind, pencil in 'writing my will' at the top of your to-do list for peace of mind and reassurance. Here are 3 reasons to prioritise it.
Ensuring that there is a will in place sees that whatever assets you leave are given to the people you cared for most.
For example, if you have children under 18 years of age you can ensure that their financial well-being is appropriately considered and catered for.
Everyone has something they want to protect after they're gone.
With a will in place, you have the freedom to decide who your assets are left to – family, organisations or charities – and how much they receive. If you do not have a will, the government may decide who will inherit your property, assets and money without taking into account your preferences. Let what you worked so hard for go to the people who deserve it most and eliminate any potential for worry.
Just a few examples of assets that can be included could range from property and super funds to smaller things like cars and precious heirlooms.
At a time meant for grieving and remembrance, you don't want your loved ones falling out due to a lack of planning and action. A will eliminates the need for dispute and allows for smooth sailing throughout a time of sadness.
With assets clearly laid out to each beneficiary, everyone will understand their entitlements and exactly what they will be receiving. By taking the time to create a will you will save hardships and make it easier on family members who will not want to spend time haggling with each other and lawyers.
Will planning doesn't have to be hard or stressful - it will let your loved ones know that you have thought of them even though you are no longer there. It can be the difference between unnecessary tribulation and a smoother transition. If you don't know where to start, let the team at TPT Wealth take care of such a sensitive subject by discussing your wishes in a professional and friendly manner. We're here to make a difficult time, less difficult.