THE IMPORTANCE OF A WILL
When it comes to matters concerning Will, the majority of the Chinese choose to embrace a superstitious attitude. This is because they have misunderstood that Will- making is only for the aged or the affluent. However, when being asked about the suitable age or time to make a Will, our answer is as long as you have assets and there is someone you wish to take care of in the case of any untoward event, the right time to make a Will is definitely now.
You are never too young to have a Will
The majority of the public conveniently used age as an excuse to postpone the timing of making a Will and this eventually leads to abstention. We once have a 60 years old client and he was admitted to the hospital due to serious illness. Upon realizing that his time was near, he desperately sought help from a professional Will writer to draft him a Will. In order for his Will to be valid, the law requires proof from the doctor stating that he was of sound mind due to his condition. Unfortunately, the doctor refused to certify his mental capacity and he regretted not making a Will earlier. The old man passed away the following day without leaving a Will.
Do not use age as an excuse because unfortunate events favour neither the young nor the old. As such, do not leave for tomorrow for what you can do today.
You are never too poor to have a Will
The cost is never an excuse. If you have assets and someone you really cared for, you should definitely have a Will.
As a parent, our most valuable asset is perhaps our children. Imagine a couple dies in a terrible event at the same time without leaving a Will and they have minor children who must be taken care of, who should be the guardian for your minor children? It is not a pleasant prospect to leave such a crucial decision in the hand of the court. So, if you have someone that you wish to take care of when you are no longer around, you should write a Will.
Entrust the Drafting of Your Will to a Professional
Disputes arise when people inherit nothing or ‘too little’ from the deceased and this problem does not only happen among the rich or a restructured family. In fact, there are many ways to challenge the validity of a Will such as faulty procedures, testator’s mental incapacity at the time of disposition, undue influence and also the inconsistency between the terms of the Will and the conduct of the testator.
We should only seek help from well-trained legal professionals to draft his Will in order to attain guarantee and security. In fact, engaging a professional to draft your estate planning documents is a wise course of action as this helps to avoid most of the problems as mentioned above. So, don’t you think we should start making plans already?