What is a Will?
A Will is a written document that sets out your instructions and wishes on how you want your estate (your money, property, possessions and other assets) to be distributed after your death.
Writing a Will is essential if you have dependants like young or disabled children or elderly parents. Your Will can be as simple or as detailed as you want. It holds your instructions on whom to care for your minor children or parents, and how you want your estate to be divided when you pass away. This makes it much easier for your loved ones to settle your estate at a difficult time.
If you're single, you may want to ensure your parents or even your pet are well taken care of. A Will makes sure your wishes are carried out without fuss.
What goes into a Will
Your Will should clearly state who is going to:
Inherit your estate (your beneficiary or beneficiaries)
Care for your children under 21 (your children's guardians)
Carry out your wishes (your executor or administrator)
Your Will should also set out how you want your assets disposed of and what happens if your beneficiaries pass away before you.