New Year’s resolutions come in all shapes and sizes. It could be a promise to use that neglected gym membership, take up a hobby, or stop binging TV shows. Regardless of what the resolution is, the reality is that many are abandoned before they see February.
However, perhaps if you used your New Year’s resolution to do something truly important, you’d be more likely to stick to it. There are a few things we do in our lives that are more important than writing a will. Wills determine what will happen after we die and can have a significant impact on our family and loved ones. We’ve put together a list of reasons why writing a will should be your 2023 New Year’s resolution. Check it out below.
It can provide financial support for your family
Many of us will leave family behind when we die. In some situations, figuring out how a deceased relative’s finances should be distributed among the family can cause serious arguments and can lead to fractured family units that may never heal.
The very best way to avoid this happening after you pass is by having a will written and in place beforehand. This way, your family will know exactly what is happening with your finances and will avoid any undue stress or bad blood.
If you were to die and leave a young family behind, having a will is the most effective way to ensure that they will be taken care of financially and that they should not want for anything after your passing. What’s more, a will can be used to nominate a guardian to look after your children should you die before they are fully grown.
It will allow your wishes to be carried out
Many people will have specific needs that they want to be met after they die. This often includes things like funeral arrangements, with instructions on decisions such as burials or cremations. By writing a will, you will guarantee that your wishes are carried out after you pass away, which will help give you far greater peace of mind and can reduce the stress of family members being left to make decisions.
It can protect your assets
Dying without a will can cause confusion as to what should happen with your assets. Under Scottish law, dying without a will means that assets and finances will be distributed among the deceased’s spouse and children if they have them. However, personal circumstances may mean this is unsuitable or inappropriate, so to protect your assets and pass them on as you see fit you must make sure that you write a will.
Your digital assets can also be protected by your will. This is particularly relevant in today’s world; a will can determine what happens to your online social accounts and any personal digital data you may have.
Leave a legacy
Donating part of an estate to a charitable cause is a relatively common practice. If you want to leave something behind for your favourite charity you must clearly stipulate it in your will. This can be a fantastic way to leave behind a positive legacy after you pass away.
The idea of writing a will can be an uncomfortable subject. However, its importance cannot be overstated. Doing so will offer you and your family a number of benefits, it will ensure they are taken care of financially and that your wishes are carried out after you pass away. Use this upcoming New Year as the perfect opportunity to write your will.