Life is a roller-coaster. Without the intention of sounding gloomy, the reality is that anyone could get hit with the unexpected at any time – bodily injuries, coma or even death.
That is where the importance of having a will comes into play.
A will or testament is a legal document by which a person (the testator) expresses his or her wishes as to how his or her property should be distributed at death, and it names one or more persons as executor(s) to manage the estate until its final distribution.
It is basically a document that states what a person wants to be done with his or her property and assets after his/her death. The executor could be trustees, wealth managers etc.
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With just a piece of paper, strife among relatives can be prevented and funds left behind could be used for funeral planning and looking after loved ones left behind. This can reduce unnecessary financial expenses, amongst others.
That said, you might be wondering how this concerns you, young Flexxer. The truth is that being young does not stop you from having a will. In fact, it is advisable to write one as soon as possible, so long as there are family members and loved ones who can benefit from it.
Also, the amount of funds, property or assets does not hinder you from making a Will, as those can be shared to the desired individuals at a constant rate even after acquiring more.
For guidance on writing a will and answers to any questions you have, be sure to speak to the experts at CSL Trustees.
So, it’s never too early to start making plans for the unexpected. Take a look at all you possess and start writing that will!