Without a will, your assets could be more troublesome than beneficial to your family at a time when they are most vulnerable. They could become involved in a long drawn process with the law or a complex legal battle. You can make distribution of estates quicker and less painful for your family. There could be long delays in the transfer and there could be potential loss to the value of the estate due to taxes, cost of administrations and legal disputes. To this end, the objective of estate planning is to ensure that the transfer of our estate is done in the most efficient and cost effective way.
Without a will, the law will decide who your beneficiaries should be. You should never assume that your assets would go to the person you want to benefit. Leave nothing to chance. Make a will and the law will protect your wishes. Death is an emotional and difficult time for family members. By leaving a will, you are able to eliminate the hassle involved in sorting out your estate. Clear instructions will prevent disputes among family members fighting over the assets that we leave behind.
