Rich is very subjective. What if you don’t meet your definition of “rich” within the time that you have targeted? Does it mean that you don’t have to care about what happens to your existing assets?
1. As long as you have family and some assets, you need a Will. If you have people you care about (eg. spouse, partner, kids), a house, a bank account or even an heirloom, you should have a Will. If you do not have a Will, these are the examples of what it means:
(a) your partner (whom you have not married), will not be entitled to any of your assets under the law.
(b) your parents may get a portion of your assets even if you have spouse and children.
2. Affordable cost. The cost of writing a Will with us is very affordable and small compared to the cost of not having one. For example, aside from the pain and suffering your bereaved family may be going through after your death, they will have to be involved in cumbersome legal processes to inherit your assets. This includes the beneficiaries having to organise themselves, getting the court to appoint an administrator as well as finding out, locating and tallying all your assets and liabilities.
3. Even if you don’t have substantial assets now, your Will is drafted to cover future assets. Imagine you wrote a Will today but 6 months later, you bought 2 houses. Although your Will did not specify these 2 houses, the newly acquired assets will still be covered under your Will. It will fall within a category known as “Residual Assets”. The 2 houses will then be distributed following your wishes or in accordance with how you want to divide your “Residual Assets”.
Give our services a try. Alternatively, contact us for more information.