Having a will is must if you are old or you are an inheritor of a large property. Even if you are not rich enough, you need to make a will that helps split your belongings among your next of kin, children and spouse. If you do not make a will now for your descendants to implement, your family might encounter several obstacles when you have passed away. Here are the top 3 reasons why you should have a will:
1. It is essential that you nominate a guardian for your children. It is absolutely imperative that as a parent, you pass on the last will to your children and ensure that there is a guardian for the execution of the will till the children are of adult age. The Will needs to be looked after by a responsible person who cares for your child with love and trust.
2. Having a Will is also about appointing a guardian for your business too. This is a great way to pass on the reins of the company to the heirs you think are suitable for the business. Nearly 70 per cent of family owned businesses do not last past the first generation of owners and the main reason is lack of estate planning.
3. Having a Will also enables you to distribute the heirlooms and assets you have for your family members. The distribution of the classic cars or the savings and a decision on who receives your belongings, are a must when you die. You need to build on a Will because your loved ones need the assets to survive when you die.
In case you are an individual who wants his property to be distributed to charity, you need to have a specific Will that explicitly explains that. Giving up assets for charity is often a great reason to make a Will. Would you like to make a Will? visit us for more at www.notarizers.ca.
For further information about why you should make a will now, please contact Notarizers by email at Info@Notarizers.ca or by phone at 416-782-5926.