Why Do You Need A Will?
Let reality tell you why you need a Will.
<A story that will change your view>
Three years ago, A bought a house. He had subsequently got married and had two children.
Unfortunately, A passed away in 2020 without having a Will. Pursuant to the intestacy laws, half of the rights and interest over his house went to his children. The remaining shares were distributed 25% to A’s wife, and 25% to A’s parents.
Soon after, A’s wife had also passed away without having a Will. Due to the absence of a Will, one third of the rights over A’s house held by A’s wife are required to be distributed to the parents of A’s wife. The remaining two thirds of the rights over the house held by A’s wife would subsequently be distributed to her children.
Imagine, if the parents of A’s wife, who had 8 other children of their own, had also passed away later on. The rights over the house held by the wife’s parents, would subsequently be further distributed to these 8 children who would all have equal shares in one third interest of the house initially held by the parents of A’s wife.
Moving forward, if A’s parents had also passed away, similar to the above situation, the distribution of the rights over the house would be further complicated with almost 20 joint beneficiaries now. The scariest thing is that if one of the joint beneficiaries dies without making a Will, the situation would be even worse.
The purpose of making a Will is to prevent this from happening.
Unfortunate events may happen regardless of age
It is hard for us to predict the future as we will never know when an accident may occur to us. You may think that you have plenty of time to prepare for your passing. However, reality tends to sweep people off their feet.
Disasters are unpredictable and unpreventable. As such, planning and preparation for such disasters are hence pivotal. Having a Will would make it much easier for your family or friends to arrange for your affairs upon your passing.
Without a Will, the distribution process of your estate would be more time consuming and stressful for your loved ones, especially during their time of grievance. So, prepare your Will as early as possible as your parting gift to your loved ones.
Pandemics happen regardless of who you are
In light of the recent Covid-19 pandemic, it is prevalent that a multitude of individuals were taken away from their loved ones regardless of their age, health, wealth, or background. Not to mention the multitude of illnesses that one may suffer at this day and age as delaying the drafting of ones’ Will only place ailing individuals in a precarious position.
Having a Will not only protects your right to distribute your estate, it also acts as a guarantee for your loved ones. Leave them with good memories and distribute your estate as you wish to benefit your future generations.
Conflicts happen in every family
It is common for family members to dispute over their loved ones’ inheritance even to the extent where such disputes were brought to the court.
It is granted that some elderlies do consider that having a Will is an ominous sign. However, we strongly advice everyone especially the elderly to consider having a Will in order to prevent the possible inheritance disputes between family members.
谨慎思考 － 提早预防 － 把心立嘱 － 嘱到心安 － 财富永续 － 世代相传
So, ACT NOW to
PROTECT your loved ones’ rights and interests and ensure that your wishes are adhered to. Time is precious as accidents and disasters do not discriminate its victims. Email us at firstname.lastname@example.org / email@example.com now, and we will assist to help you. We will protect your interests and your wishes from a professional legal perspective.