Old age and/or serious illness are factors that move an individual to prepare for his passing and make sure that his assets go to people who should deserve them. Who takes the antique jewelry that you inherited from your grandmother? What about your old car that is in mint condition? Who is going to take care of your dog Ruff? Contrary to the belief that only those who are filthy rich should make a will, a regular Joe or a plain Jane can likewise make a will to protect the interests of their loved ones, and it does not matter whether the treasure they leave behind is worth millions or not.
When a person dies without a will, his assets are distributed among his heirs in a sharing prescribed by law. This is called intestate succession; the state law decides for you. So, if you do not want the state to make such decisions for you when you are gone, it is wise to prepare a will now. A person who dies with a will leaves the state no choice but to honor the deceased’s wishes (subject to a few exceptions). This likewise prevents conflict in the family as to who gets what because you have already stated your will.
You don’t have to wait until you are old or seriously ill before you make a will. Anyone can make a will as long as he or she is 18 and older and of sound mind. When I say of sound mind, the person making the will must be aware of the consequences of making the will – that in the event of his death his ownership over a certain property will be transferred in favor of the person of his choice, as specified in his will.
Situations other than old age or serious illness that may prompt a person to make a will include marriage, having children (and this includes adoption), and divorce. Changes in circumstance will make you want to add or exclude a person, it will also make you want to protect the rights of people who matter to you. The reality is that death comes at a time we least expect, so it is better to be prepared for this eventuality by setting aside something for all who are special through a will.
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