Do I Need a Will?

This is a question that many people ask themselves. And the answer is simple: Unless you want the government to decide who gets your money when you die, make a Will.

 

No, you don’t need to have one. But ask anyone—friends, lawyers, accountants, bankers, insurance brokers, funeral directors—and they’ll tell you the same thing: If you own property of any kind, you should have a Will.

 

Why having a Will is so important

 

A Will lets you organize the distribution of your property when you die. It is one of the most important legal documents you will ever sign. There are many good reasons to have one:

 

  • To provide for loved ones and dependants
  • To decide who will manage your estate (your “executor”) and what he or she can do
  • To appoint a guardian for your children 
  • To reduce taxes on your property after you die and to maximize the value of the property transferred to your loved ones 
  • To make gifts to charity 
  • To avoid family disputes
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