Are you searching for Will writing services in Singapore? What are the key benefits of have a Will done up?
Having a Will prepared will ensure that our loved ones are well-protected upon our demise. The following are key reasons as to why you should engage Will writing services in Singapore to get a Will done as soon as possible.
Get to Appoint a Guardian to Look After Your Children
If you have minor children under the age of 21, it is important to have a guardian whom you trust to look after your children if you are not around for them. For those who are married, you may think that your spouse will be around to look after your children. However, this may not be the case in extreme scenarios where spouses pass away together, for instance in an accident.
What happen if you do not have a Will? A guardian may be appointed by the Court but the person may not be the most suitable/ capable to look after and bring up your children. Having a Will gives you the autonomy to decide the guardian of your children, should you not be around.
Get to Indicate Your Wishes on Funeral Arrangements
You can indicate your wishes on funeral and burial arrangements in your Will and your executor will respect your wishes. This will not be possible in the absence of a Will.
Get to Indicate the Person Who Administers Your Estate
You can indicate in your Will the executor of your Will. This is the person who will apply to Court for a grant of probate, administer the estate, pay off your debts and distribute your assets in accordance to your wishes.
If you do not have a Will, the Court will appoint a personal representative. Usually, this person will be your spouse or a close family member. The disadvantage is that the person appointed may not know your wishes as well as the executor you have in mind.
Get to Decide on How Your Assets Will be Distributed
Perhaps the most important reason to have a Will is to decide on how your assets are to be distributed in the event of your demise. If you do not have a Will, your assets will be distributed according to the Intestate Succession Act. This will mean that you have no say in how your assets will be distributed. In an extreme scenario, if you have no children and your spouse passes away shortly after you in an accident, all your assets could go to your spouse (since he/ she survives you) and subsequently go to your spouse’s family.
Minimize Family Disputes
Without a Will, your wishes are not made known to your loved ones. This may result in family disputes over your assets. Your family can sort out your asset distribution with minimal issues should you have a well-drafted Will.
The above reasons make it important for you to have a Will- to ensure that your wishes are adhered to and your loved ones are taken care of in the event of your demise. You may wish to engage professional Will writing services in Singapore to prepare your Will, to ensure that it fulfils all legal requirements and is valid.