Why you should have a Will

Published by

2 years ago

The idea of a Will gives the average Nigerian a sense of doom and if you ask if they have written their Will, they will most likely accuse you of wishing them death. This is however the case in a lot of societies as people don’t want to think about their mortality.

But death is inevitable and if you die without a Will, you are leaving important decisions to a local court and state laws as you won’t have input in what happens to your assets and you will be creating problems for your loved ones.

The truth is having a Will is not planning for your death but ensuring your loved ones are adequately protected as it protects them from unnecessary hassles and you are sure your possessions will end up in the right hands.

Importance of having a Will

Life is easier for your loved ones after your passing and protects them from intestate administration which is cumbersome and complicated.

It curbs conflict among survivors after death

It gives you the opportunity to nominate who will be in charge of wrapping up your affairs and allows you pick someone you trust to do your bidding.

You can decide how your property is shared.

It allows you to exclude or disinherit a person you don’t want from benefitting from your estate or property.

You can decide who will take care of your minor children by nominating a guardian.

Making a will can reduce the level or amount of tax liability on your estate which means the amount of estate your successors will inherit will be larger.

It allows you leave instructions for your digital assets like online accounts, such as Facebook or email, and digital files or property like crypto-currency and non-fungible tokens.

It helps to leave a legacy for favorite causes.

It allows to provide funeral instructions.

It’s no longer fashionable to bind in Gods name when Will is mentioned; make a good assessment and make a rational decision devoid of emotions.

READ ALSO FROM NIGERIAN TRIBUNE