Our short answer is it brings certainly to your loved ones in your unfortunate untimely death. No one can predict when he will die, and for the elderly, this is usually a very sensitive or taboo issue. However, major tragedies, such as Air Travel tragedies, Terrorism or Earthquake, reminded us that we should not take death for granted, i.e. that death will only happen to others but not yourself.
Based on our experence, more and more younger adults (under 40s) are making Will for advance preparation of asset distribution in case of unfortunate deaths. Singles or unmarried people in the 30s to 40s are also on the rise in making Wills.
Our lives are precious. So are the welfare and interests of our beloved spouse and children. With a Will properly drafted and signed during one’s lifetime, it will definitely bring “certainty” to your loved ones or beneficiaries.
There will be less squabble among family members as your wishes are clearly stated in your Will. Your loved ones will know who will be your Executor and Trustee of your estate, instead of relying on Intestate law.
In your Will, your loved ones will know what are your wishes in respect of distributing your Assets, instead of leaving it in the hands of Intestate laws, which are usually not your wishes.
There will also be certainty as to who will manage the estate as Executor(s) and/or Trustee(s).
In very unfortunate circumstances, the whole family or some members may perished in the same tragedy, e.g. airplane crash or car accident. With a Will, you can provide for such scenario, such as appointing a Guardian of your choice in the event you and your spouse die at the same time.