You have probably heard that it’s important to have a will. However if you are young, don’t have a lot of assets, or haven’t started a family yet, you may be wondering if having a will drafted is really necessary just yet. The fact is, there are many benefits to drafting a will now – and as your situation changes, you can always make changes to it. Below are just a few of the benefits of drafting a will.
- It helps you to have important conversations.
Drafting a will forces you to think about your values and what you would want at the end of your life. For example, how do you feel about being kept on life support, or do you wish to be an organ donor? Conversations like these are ones you should have when you are healthy so that your loved ones know your wishes.
- Take care of the important people in your life.
Without a will, the courts will generally recognize your spouse and dependent children as beneficiaries, but what about the other important relationships in your life. If you’d like to leave something to a friend, sibling, or other important person in your life, you will need a will to do so.
- Put a plan in place for minor children and/or pets.
If you have minor children or pets that rely on you, drafting a will allows you to put an emergency plan in place for them. A will allows you to name a guardian for your children and put money in trust for them. You can also name a caretaker for your pets and even leave some money to that person for their care.
- Decide how your estate will be distributed.
Do you have certain things that you wish to go to certain people? Having a will allows you to decide exactly how you want your estate to be distributed and it means that your loved ones won’t have to guess after you’re gone. You can even choose to leave some of your money to a favourite charity.
Contact Minhas Lawyers today
There are many benefits to having a will drafted and if you don’t have one – or it’s been awhile since you last updated dated yours – then it’s time to take action. Call us today to make an appointment with one of our estate lawyers.
Minhas Lawyers LLP is a multi-practice law firm based in Mississauga. We advise and represent clients across various segments and practice areas.
Follow Us On
Monday – Friday:
9:00 am to 6:00 pm
Saturday - Sunday:
Book Appointments Only
Phone and Fax