Your will specifies what should happen to your wealth, belongings, and property after you pass away (collectively referred to as your “estate”). If you don’t leave a will, the government will determine how the wealth is distributed, or the future of your RAK offshore company, which may or may not be in your best interests.
There are four examples why you should have a will.
- A will makes it much easier for your family or friends to carry out your affairs after you pass away; without one, the process can be lengthy and exhausting.
- If you don’t leave a will, everything you own will be divided according to the law’s guidelines, which may or may not be what you want.
- A will help you save money on Inheritance Tax by reducing the amount of income and property you left behind.
- If you have children or other family members who rely on you financially, or if you wish to leave anything to someone in your immediate family, you can write a will.
How does a will help in achieving your dreams?
Your will specifies two very important things: who should inherit your income, land, and belongings when you die, and who should have your money, property, and assets when you die.
Your executor is the person in charge of organizing your assets and carrying out the orders you leave in your will, and you can name more than one person if you like.
You will also use the will to communicate whatever other desires you have, such as funeral or cremation orders.
Your executor will do everything possible to ensure that your requests are carried out, as long as they do not violate the rules.
It is true that the executors will not always be able to carry out your wishes.
For e.g., a person to which you wish to leave everything will pass away before you, so if you have a will, you have a greater chance of things going your way.
Check to see if your will is legitimate.
Your will doesn’t have to be written on fancy paper or use a bunch of legal jargon.
A text is a legitimate will if it contains the following information:
- When you die, this document specifies how the assets can be divided.
- Was created because you were free to make your own choices and weren’t pressured to leave it to others.
Is signed and dated by you in the presence of two adult, impartial witnesses, and only signed in your presence by the two witnesses – the witnesses cannot be individuals who will inherit anything from you (or their husband/wife or civil partner). Click this site to get in touch with the leading legal advisors for a safe will process.