This is the question many would ask when they intend to write a Will ? Now, let’s reverse the question. What is the fees you expect to pay when you plan to write your Will ? Few hundreds, few thousands or more ? How to measure the charges ?
Let’s say your net worth is few millions and it cost only few bucks to distribute the wealth to your next of kin. WOW ! This is really cheap. But won’t you doubt on the efficiency ? Once the Will activated, can it really act according to the testator wishes ? Some may say YES, but they are some would doubt it too.
For most people, writing a Will is just 2-5 sheets of papers comes with few simple wording, that’s all. It should come cheap right. I just write ‘my all assets’ to ‘my spouse and children equally’. That’s the end of the story.
Although is just a few sheets of paper but it consists of a specific, tailor-made instruction made by you to your loved ones. Inside you appoint who shall act as your executor, who shall take care of your child and where your assets shall distribute. Is that all ? NO. It’s far more need to be done than you think.
Study shows 90% of men do not know what’s their wife assets and almost 100% of women not aware how much their husband owns. Do you know getting aware of how much the deceased owe is also important ? This is vital because before distribution starts, the executor needs to settle the debts owe by the deceased 1st. Debts not paid means distribution cannot start.
Yes, you may pay a cheap fees for your Will but it would end up paying more than you are suppose to, just to dig out all the assets and liabilities own by the deceased. Is either you pay now or you pay later. If things are made right at the 1st place, everything would go smooth with minimal interruption. Next of kin would get their entitlement faster with slight chance of depletion of wealth. Duration needed to distribute assets were faster. Aren’t this is also what you wish for ?
There’s a Japanese proverb says :
A Will is far more than just a few lines of words. The tiny little points crafted to guide your descendants along the way to their inheritance is definitely worth more than what you paid.
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