If you don’t have a will and is looking to get a will, or to advice someone to get a will, you should know why you need a will first. It is important important to know why you need something and how it will benefit you instead of just blatantly getting it first, even if you are advising someone, you will still need to know what you are talking about. But most importantly you need to know why it benefits you.

You can also learn how it can benefit your family instead of just yourself. Instead of benefits such as those, there are others that states that it allows you to be in control of who gets what of your estate and who doesn’t want to be in control of distributing their hard earned possessions? Everyone loves being in control and this is definitely one of the ways to be in control, in addition to that, it also allows you to still plan for your family before your death.

You Can Decide On How Your Estate Will Be Distributed

One of the most important things that people want is to be in control of everything, get what they want on their terms, make their own choices, well this is one way to be in control, but not be in control of something that is not important, this is something that is really important, it is the control to your possessions, you can choose who will inherit your possessions did you die. You can also decide when they will receive it. In addition to that, having a will can reduce family fights about your estate.

You Can Decide Who Will Take Care Of Your Minor Children

In addition to what has been mentioned above, you will also be able to decide who will take care of your minor children. Your children is probably your greatest life’s blessing and it is crucial that you choose the right person to take care of your minor children. If there is no will, the court will take it upon itself to choose among family members or a state-appointed guardian. But if you have a will, you will be able to choose who will take care and raise your child.

Avoid Lengthy Probate Process

It is a common belief that all estates must go through a long probate process, with or without a will. But you should know that if you have a will, it will significantly speed up the probate process and tells the court how you would like your estate to be divided. So when you do not have a will, the probate will have to decide how to divide your estate without input, this is the part that will be a long time.

Reduce Estate Taxes

One other reason that you should have a will is because it allows you to minimize your estate taxes, since, the value of what you give away to family members to charity will reduce the value of your estate when it is time to pay estate taxes. So if you want to minimize your estate taxes, it is a really good idea to have a will, but other than that it also have a whole lot of other benefits so it is a definite win.

You Can Decide Who Will Wind Up The Affairs Of Your Estate

As mentioned earlier you will have absolute control, so that means you will also choose who will be the one who will be the executor of your will. An executor will be sure that all your affairs in order, and that includes paying off bills, cancelling your credit cards, and notifying the bank and other business establishments. With that being said, it is very important for you to choose someone that is honest, trustworthy, and organized because this someone will play the most important role in the administration of your estate.

You Can Disinherit Individuals Who Would Otherwise Stand To Inherit

Talking about being in control of everything, we all can’t help it, sometimes we will have issues with certain family members and of course we wouldn’t want them to get anything from us. You can take advantage of your will like this, you are able to choose who to disinherit so that they can’t inherit anything from you. Even if everything is fine, sometimes you still need to choose who will get the right stuff, because sometimes your estate might end up in the wrong hands and everything will go to waste.

Make Gifts And Donations

Having a will allows you to have the ability to make gifts and it is a good reason to have a will because it allows your legacy to live on and reflect your personal values and interests. Gifts up to $13,000 are excluded from estate tax, that way you are will be increasing the value of your estate for your beneficiaries to enjoy, but you need to remember to check the current laws to learn the most current gift tax exclusions.

Avoid Greater Legal Challenges

One of the other importance of having a will is so that all of your estate will not be passed on to someone you did not intend. An example will be this case that involved the estate of a deceased person who is a son who was awarded over $1 million from a wrongful death lawsuit. When he died, his father who had not been a part of his life for over 32 years happen to be the person who inherited the entire estate and that leaves close relatives and siblings out.

You Can Change Your Mind If Your Life Circumstances Change

One of the most important benefits of having a will is that you can change it anytime while you are still living. Major life changes such as a birth of a child, death of a family member, divorce, marriage can create new situations and change beneficiaries so it is important where you can change it anytime and keep your will updated so you can ensure that everyone will get something.

Tomorrow Is Not Promised

One of the most obvious importance of having a will is because of the reason that tomorrow is never guaranteed. You may be healthy as a horse today, but tomorrow, a freak accident may happen and you could be left dead. Then there is nothing you can do to allow your family to inherit the right stuff, all will be decided by the court and it will be as the law states it. So be prepared, there is nothing wrong in taking precautions and keeping your family in mind when you are gone.

Conclusion

So now you know all the importance of having a will, you should really consider getting one soon, because you may never know what might happen the next day and the day after that. It is incredibly important to be prepared for the future and ensure your family will be secure. NEMWill is the first online will writing platform built on the NEM blockchain that preserves your crypto assets along with all your other assets. If you are looking for an easy way to get your will done, then this is it for you.