There is a lot to plan when you have a child, obviously all parents want their children to have a comfortable and secure lifestyle. Therefore, above all there is paperwork to complete and file.
New parents are aware of the basics such as registering the child’s birth and applying for a health card. But, the most important document that has to be written is a Will and Testament for the parents, if they do not already have one or revoke the old one with a new one.
Usually, this important document is often overlooked as parents usually procrastinate on the need of a will. Most people think that a Last Will and Testament as a document that describes the distributions of their estates after they are gone, and this is absolutely one of the most crucial aspects of this important piece of paper.
However, for new parents the challenging part is the one that names the guardian of the children. It is time to get over the superstition or fright of discussing death.
What happens if you do not have a Will?
If something were to happen to you as a parent, the other parent will be given the responsibilities of your children. Unfortunately, if something were to happen to both the parents, then everything will become arduous. It is not expected to happen but it just might. We can never predict the next second in our lives.
As parents you should have a thought on who can be the best person to take care of your children when you are no longer around. Without a Will, friends and family will apply to the family court and a judge will decide on who should be the guardian of your kids. Isn’t that more horrific? The judge will not know anyone personally; it’ll be decided based on their age, financial means, type of relationship or even their geographic location. How can that assure that they would take care of your children without any issues?
The battle the kids have to go through in the family court might give them mental stress which will affect them in future. There is no say in the matter if you do not have a valid Last Will and Testament.
What happens if you have a Will?
If you have a Will there will be a clause naming your choice for the guardian of your kids. Moreover, in some cases, you may also describe why you want that particular person to be your child’s guardian.
There are many things to consider before you choose a guardian for your children. For example, do you want your child to move to another country? Do you want your child to live with a family member or a friend? What makes your child secure living with them? Are they financially stable, can they provide good education to your kids? And many more perspectives have to be taken into consideration.
It is a very tough decision to make, especially choosing a guardian that will replace you until your child reaches the age of 18 is not an easy thing. But if you have included all the above in your Will, this can be submitted to the family court and it will have less dispute before the guardianship is granted.
Remember you should also speak about guardianship to the guardian that you have chosen, this is to make sure the individual is aware of the guardianship.
But isn’t it a pain to write my Will?
It does not have to be, if you know the proper way to write a Will.
Basically, there are three options:
You may see a lawyer, who will give you qualified legal advice. This will cost around RM500-RM1000. You will receive the best quality service, but it can be troublesome and expensive to update your Will if you have any changes. If you have a baby you are likely to make a trip to a law office.
On the other end, you can get blank Will kit forms that are sold in stationery stores. These can be the cheapest but have been criticized by many observers as they are just blank form and you have to think on how to complete the Will on your own. Even though you’re allowed to do this, it’s a bad idea to do so. Why? ‘Because you will have to set up minor trusts, residual beneficiaries and other plans to change from time to time’. This might cause inconvenience later on since it is not a common task to a layperson. Even the slightest mistake can cause the Will to be invalidated.
Besides that, there are online tools, somewhat analogous to tax preparation software. These tools will guide you step by step on how to create a Will by asking you various types of questions. The questions will be based on family situations, your wish on distributing your assets and regarding the guardianship of your children. The superiority of these systems is that you can complete your will at home and at your convenience. Once you are done with it you may also update your documents whenever the circumstances change. Every time a change is made, you just have to print a new copy of your Will and sign it in the presence of two witnesses.
This is the easiest way to create a legal Last Will and Testament according to your convenience. Compared to the other Will writing services this would be the brisk way of having your Last Will and Testament within a matter of minutes. Visit WillsMalaysia.my and try for FREE today!
this is a tough one, but it’s something we gotta face. don’t want the courts deciding for my kids.