Writing a will is among the great things you can do if you want your children to live well after you have passed away. A will is a legal document that allows you to stipulate what happens to your estate and other possessions once you pass on. 

Will preparation helps you and your children in various ways, and that's why you shouldn't take it lightly. Here are three reasons timely will preparation is vital.

You Specify Who Raises Your Minors

Every parent wants their children to have the best life while growing up. This doesn't stop at meeting their daily needs; you also need to secure their future. In most cases, the surviving parent should take legal custody of the kids when one parent dies. However, things can be difficult and a bit messy if both parents die. If death strikes before you have written a will, the court may have to appoint a guardian. 

And since it may not know more about the family, they could easily make a mistake by appointing the wrong person. When this happens, your children's basic needs like housing, food, clothing, education and health care might be neglected, subjecting them to great suffering. However, preparing a will is a great way to secure the lives of your minors since you are free to name a guardian you trust.

You Avoid Estate Distribution Disputes

Another benefit of will preparation is that you state who gets what and when. Your primary responsibility here is to ensure your children have a secure future, whether minors or grown-ups. It also helps you take care of your spouse, especially if you are the breadwinner. 

Some people choose to give part of their estate to people they aren't related to or charity organisations, and you can also do the same if you wish. The main this is ensuring you distribute your assets and properties as desired and put it in writing. This way, there won't be family fights after your death.

You Will Lessen the Estate Tax

Writing a will ensures is a great way to lessen the estate tax you get from the tax authorities. When you give the assets to your loved ones, friends or a charitable group or organisation, the taxable value of the estate will reduce. This means the beneficiaries won't pay significant taxes for the property they inherit. However, you need to outline the estate distribution in a will to make it more effective.

Although the reasons for drafting a will are genuine and rational, the preparation aspect can be overwhelming. However, with the help of a seasoned will preparation lawyer, writing the will and executing it becomes a flawless and simple process.

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