What difference does writing a Will make?

You may have heard others voicing out there's no need to write a Will as a person's estate can still be inherited without one. Or that it makes no difference for me to write my Will as I don't have any assets or I will give them away when I am old and before I die. Are these points of view true?

Well, let's debunk this by looking into this matter objectively. Please allow us a couple of minutes of your time to get the correct and proper understanding. You have a lot more to gain and nothing to lose really.

So to get straight to the point, we have surmised all the important benefits of having a Will here for you.

Control Over Asset Distribution: A Will allows you to specify exactly how you want your assets, such as property, investments, and personal belongings, to be distributed among your loved ones.

Appointing Guardians for Minors: If you have children under 18, you can designate guardians to care for them in the event of your passing.

Creating a Testamentary Trust: If you have children under 18 or young adult children without your experience in handling your business or their inheritance, a Will can contain a testamentary trust to protect these beneficiaries and preserve your assets.

Reducing Family Disputes: By clearly outlining your wishes, you can minimize the potential for disagreements among family members about the distribution of your estate.

Minimizing Exposure to Creditors: Proper planning (that will take place when writing your will) may bring to your attention the possible need to set up a living trust to protect your assets against creditors of your estate.

Avoiding Intestacy Laws: Without a Will, your estate will be distributed according to the laws of intestacy, which may not align with your wishes. Click here for the distribution fixed by law if you don't have a Will.

Expressing Funeral and Burial Wishes: You can include your preferences for funeral and burial arrangements, ensuring that your wishes are respected.

Protecting Vulnerable Beneficiaries: A Will can provide financial protection for dependents who may not be able to care for themselves.

Appointing an Executor: You can choose a trusted person to manage your estate and ensure that your wishes are carried out fully.

Having a Will gives you peace of mind knowing that your affairs will be handled according to your wishes and can provide significant relief to your loved ones during a difficult time. Hence, writing a Will is highly recommended.

We, at Generations-ASIA can assist you in writing your Last Will professionally to ensure all the above points are yours to benefit. Click here to let us know you would like to find out more about the benefits of writing a Will in Malaysia and Singapore.