Why You Should Write A Will
06 Sep, 2016 5:00 PM
Here are reasons why it's important to have a will:-
• To ensure your assets are distributed according to your wishes amongst your children, spouse or other family members. Without a will, strict legal principles will decide who will inherit your assets.
• To appoint a guardian for minor children. In the event of your death, you can ensure people you trust look after your children.
• Wills don’t have to be just for friends, family, and loved ones. They can also be used for altruism. Including a charity in your Will is a great way to give back and make sure your assets are used for a good cause.
• Writing a Will (and using Living Trusts) is a good way to pass your company to your heirs or the co-owners of your business. A full 70% of family-owned businesses do not last past the first generation and the main reason for this is the lack of estate planning.
• To nominate an executor
Without a Will, a personal representative will be appointed to administer your estate. By making a Will you can ensure it is someone you trust.
• No one knows their children better than a parent and, if you pass away without a Last Will, the State will decide who should care for them. You can choose a guardian for your children in your Will and make sure they are looked after by someone you loved and trusted.
• Losing someone is incredibly hard, and the last thing any of us want to do is spend those hard times haggling with lawyers and family members. Writing a Will keeps your loved ones from having to deal with bureaucracy in a time of sadness.
Writing a Will is something we should all do even though most of us never seem ready to write because we fear we might be inviting death. It is a fact that one in three people in Kenya die without ever having made one.
If you need professionals lawyers to help you write your will and see to it that t is enforced, come to Rachier & Amollo Advocates. We are located at Ralph Bunch Road, Mayfair Centre, 5th Flr, Hurlingham, Nairobi.
