All of us are surely scared of two things in life
1. Death and
What’s worse is both happening together.
COVID- 19 especially has made us think more about wanting to be prepared for death. None of us wants our family members, fighting in courts for years together for inheriting and getting the ownership of our assets (for which we worked our entire life) after our death. Making a will can solve this problem and save our near and dear ones from paying high emotional and monetary costs. We have answered all your questions here, to help you easily write a will!
What is a Will?
A Will is a document where you can decide how all your assets will be distributed after your death. Making a will gives you full control and authority to decide what happens to your property. Not only can you assign the property/assets to your friends, family members and others, you can also choose to donate to charities, list your other wishes, and even assign a guardian for your pets! The customisation possibilities are endless. You must also appoint an executor (anyone who you trust) to ensure your will is executed the way you want.
How to Write a Will
The law allows you to write your own will and it is not mandatory to have a lawyer to do it for you. But making an error-free will, with complete clarity, is very important to ensure there are no legal battles. Remember, even a missed comma has led to million-dollar lawsuits. Having a lawyer then seems like a safer bet, but their fees are often sky-high (i.e. anywhere between 2% to 5% of your assets). But we have a simpler solution. Kwil provides you with a cost-effective way to make a perfect, error-free Will from the comfort of your home. Here are some of the perks of using Kwil:
One-time, Fixed Fee
Yes, you heard it right. No matter how big your Will is, Kwil will only charge you a fixed one-time fee for your will. It provides you with a personalised, drafted Will, and you no longer have to rely on incorrect and readymade online templates.
Easy Step-by-Step Guide
The website is extremely user-friendly, and it will take you through each step, so you miss out on nothing. All you have to do is answer and fill in the questions. It will take care of all your customisations.
Kwil provides many interesting features like free unlimited changes up to 1 year, telephonic assistance, etc. What we find the most interesting is the Executor Lockbox, which stores all the important details of your account numbers, credit cards etc. in one place. This will make it extremely easy for your executor to execute the Will.
Safety of Data
With end-to-end encryption and complete privacy control, you do not have to worry about storing your personal data online. Only you can choose who can access your information.
Why are Wills Important?
We told you how to make a will, but here are the top 5 reasons why they are important and everyone should have one.
- Avoiding legal battles after death.
- Have control over how your property gets distributed.
- Mental peace and certainty of having your loved one’s financially secure.
- Safety of minors and providing them with a guardian you know and trust.
- Inexpensive and quick distribution.
Who Should Make a Will?
The general perception is that Wills are for rich people. The rest of us have no reason to create Wills. This could not be further from the truth.
A Will can cover just about everything, as we said before. From what happens to your pets after you’re gone, to who gets your house, what you want done with your body, what happens to your social media accounts – everything can be put into a Will.
So, honestly, every single person who is of an age to make one (generally 21 years and above) should make a Will. It does not matter how rich or poor you are, your existence is enough of a reason for you to make a Will.
When Should You Make a Will?
Another assumption about Wills is that old people should make them because they are closer to death than most. Well, if there’s one thing we can learn from the COVID-19 pandemic, it is that life is not to be taken for granted. It is never too soon to prepare for your own passing.
We understand that thinking of writing a Will can be an emotionally daunting task. But if you care for your near and dear ones, then making a Will is the only way to ensure you don’t leave them in a lurch. You can’t control your own death but you definitely can control what happens in its immediate aftermath.
So, the simplest answer for when to make a Will is: now.
You can always change your Will, it’s not a one-time, full-and-final thing for as long as you live. Only your last Will is legally valid. So, you don’t have to wait till you age to make one. As soon as you start earning, you should invest in making a Will.
Every major life event, like marriage, having children, retirement etc. is a good time to look back at your Will and see if you need to make changes. Kwil, in fact, also allows you to make unlimited changes for free in the first year after you create a Will. In subsequent years, you can still make changes for a nominal fee. This way, you don’t have to rely on free online templates and risk making an error.
We hope this made creating a Will feel like a less intimidating task. So set your mind and get ready to make yours today from the comfort of your home!