And the top 10 will writing myths are:
Myth 1: It’s a known fact my children will get my property.
This is perhaps the most ridiculous will writing myth. While there may exist state laws that govern the way family estates are distributed upon death for those without a written Will, there may be some differences according to the law of the land.
For example, even if your spouse is the legal heir to receive your assets, but without a will, it may sometimes be a costly and complicated affair – all because there was no will in the first place. Worse, if both of you were to be involved in an accident, the consequences would be even more chaotic and a legal nightmare. Therefore, having a written Will is more advantageous in making your loved ones as legal executors and heirs of your estate.
Myth 2: I don’t own many assets, so there’s no need to bother about a Will.
This statement could be true, but it is only meant for today. Your will, on the other hand, extends into the far of future, and change is a constant so may be your financial environment.
For example, if you were killed at your workplace due to a careless workplace mishap, and there was a hefty insurance payout, or you happen to win a state lottery. In both instances, your net worth could obviously be worth more than your present day. In reality one exactly knows how much he or she is worth in the future.
Myth 3: I don’t really care what happens to my estate, or have anyone to pass on my assets after my death.
If this is the case, think about the numerous charities or old folk homes that may benefit from your kind legacy. Otherwise the government will become the sole executor of your unnamed assets, and may use them at their own leisure and choice, which you may not have agreed to if you were alive. Hence the choice is yours, as the Will you leave behind may help someone in need very much, which is surely better than surrendering your property to the government.
Myth 4: My estate will amicably be distributed by my family members.
That is how wrong your assumption could be on will writing myths, as you may have witnessed in your own life how lovely families have split-up because of selfish or even jealous motives – all because of the inheritance issue, with each member having differing self-interest. With a Will in place, this surely will not happen, as you have set in place an execution on how to divide the wealth, however big or small it maybe, but without the family squabbles.
Myth 5: I’m still young and don’t need a Will at the moment.
Death has no timeframe, as it could happen anytime, anyplace. There is nothing like the present time to take advantage of in making a Will for the future, all in preparation for eventual death. Unlike yesteryears, where making a Will can be a costly affair, today is different. With online legal Will services, one is able to get a Will within a span of 30 minutes. Hence, procrastination should not be an option.
Myth 6. Wills are an expensive affair.
That statement is further from the truth on will writing, and no longer holds water. Today there is no requirement to use a lawyer to prepare your Will. With convenient online Will services, rest assured a legal Will can be in your hands in less than 30 minutes – minus the hefty costs. In addition, with the flick of the finger, the Will can be updated at the convenience of your home computer or mobile. However, a word caution! At the least, once you have created an online legal Will, you should update your beneficiaries, or your personal, or your financial position once a year.
Myth 7: Locating the right lawyer can be tedious, or too expensive.
Obviously, there can be some truth to this, as it can sometimes be an arduous process finding the right lawyer with the right fees. But there is also no telling what other hidden charges that may exist if you were to change the Will details, like including other assets, or new family members to your Will.
All this can be solved by the easy route of seeking an online Will provider that is flexible, convenient, and a much cheaper alternative – all from the comfort of your home, minus the parking and petrol charges!
Myth 8: My Will is done.
Yes! That may be true. But did you ever think that Wills, just like any other important documents need to be updated with the current times, especially when major events occur in your life, otherwise some of your assets may not be included in the distribution list?
With an online platform that problem is easily solved, as you are allowed free updates once a year, unlike a lawyer who may charge for new updates. In addition, when you make an appointment to see a lawyer, you may be asked to name a guardian when it comes to children below the ages of 18, and you may be ill-prepared at that point – as you may need time to think it over. Rather than making another expensive trip to the lawyer, with an online service you can add that information at a later date, all from your comfortable home!
Myth 9: I can use cookie cutter Wills found perhaps in stationery shops.
Though you are entitled and may have all the right to prepare your very own Will in any form you choose, but writing your legacy in a white piece of paper may land you or your beneficiaries in a lot of trouble when the document is required to be presented in the courts. Hence, this method is definitely ill-advised.
Myth 10: I’m just afraid of all this legal jargon.
Last but not Top 10 least of will writing myths. You should have no fear of this today. As online Will services are worded in simple plain English that is both easy to understand and legal when presented in the courts. The forms are easy to fill-in, without the need for a professional and costly lawyer. All you have to do is follow through a list of easy to understand and straightforward structured questions.
So, there you go! All your 10 myths about writing a Will have been clarified. In fact, online Will services today are here to help you distribute your wealth with a peace of mind without any fear – and at the fraction of the cost, if you were to engage a lawyer.
Guess by now you should not have any excuse to not own a Will – otherwise you doing a selfish injustice, not only to yourself, but to your loved ones as well. Try it for FREE on WillsMalaysia today!