What Are the Top Benefits of Getting a Will Written?

A Last Will is a significant legal document for all people to declare their intention for their property after their demise. Many people in India ignore the concept of creating a will and the practice is even shunned in some families. But death is inevitable and creating a will by hiring a will-writing service can reduce several hassles.

Wish to know the many benefits of getting a will written? Here’s a look.

Distribution of  Property

Having a will makes sure that your property will be distributed according to your wish after you pass away. Without a will, a person is believed to have died intestate. In that case, the person’s property is distributed according to the Indian Succession Act, 1925 or any other Act based on the person’s religion. Therefore, creating a will is important if you have children with special needs or wish to give a larger share of the inheritance to a specific person.

Provide Financial Security

Sometimes, some family members may need more financial support than others due to special requirements. For example, a child studying abroad may need extra financial help for a while or a child with special needs may require more financial stability throughout life. In these cases, a person can inherit more financial resources if that is stated in a Last Will. Otherwise, according to the Succession Act, the deceased’s property is distributed equally among all the heirs without taking into account any special requirements.

Inventory of Assets

Often, legal heirs are not aware of the assets of the deceased which vary from immovable property to bank accounts. In many cases, the deceased person’s property is left without being claimed by the heirs. Indian banks alone have a large number of unclaimed dormant savings accounts. On the other hand, several immovable properties are in India without any track. So, it is necessary to mention all the assets when making a will. This helps legal heirs easily track the assets of the deceased individual. If you buy a term plan online, you can even mention the death benefit in the will. 

Appointing a Guardian for Minors

If you wish to have a will written for minor children, ask the will-writing service provider to add a different guardian’s name in case of the demise of both parents. If you don’t have a will, you can’t appoint a guardian for your minor kids. For a will, the chosen guardian should be an individual of best interest.

Reduce Legal Hassles

More than 3 crore cases are pending in the courts in our country. It often takes up to 20 years for civil cases to be settled in a court which leads to the waste of lots of effort, time and legal expenses. Creating a will can help bring fast settlement of the deceased’s property and help avoid property disputes among family members or major legal expenses.

Make sure to hire a reputed provider of will-writing services in India. Besides creating a will, buy a term plan online to secure the financial future of your dependents.

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