Prepare Your Last Will and Testament and Have Your Final Say

If You Don’t, Someone Else Will Decide For You

In most jurisdictions I am aware of, if you die intestate (dying without a will) there are laws in place which govern the distribution of your estate.

Do you want the government to decide who benefits from your estate?

Your last Will and Testament (Will) spells out exactly who share in your earthly treasures. Without a Will, there is almost a hundred percent chance that there will be a battle royal among family members before the dust finally settles.

Even with a Will, family members who got along amicably and lovingly, fight among themselves over the contents of the Will. Huge fights develop over the comparative value of the benefit received by each beneficiary.

Very often, the amounts and values in dispute are minor. These fights tear families apart, and in many cases, reconciliation is out of the question.

I have seen this happen several times.

Such ugly, often petty fights are shameful and disgraceful and dishonor the deceased.

When wealthy individuals pass way, with or without a Will, the fights usually end up in the courts, and the lawyers then become the biggest beneficiaries of all.

The soccer icon, Diego Maradona, of the infamous “hand of God” incident, passed away on November 25, 2020, without leaving a Will. Sixteen individuals are now involved in the fight over his estate.

One Argentine source said, “The battle for Maradona’s money won’t just be contested, it will be a World Cup.”

Robin Williams, the famous American comedian, committed suicide in August 2014. Even though he left a Will, it was contested in court by family members who were unhappy with what Williams wanted to be done with his estate. Lawyers were hired, but the parties involved came to a settlement through a process called mediation.

Here are a few ideas to consider when preparing your Last Will and Testament.

• Have a lawyer prepare your Will. Will Kits and forms are available online which you can use to prepare a Will yourself. Don’t do it. A good lawyer will ensure that all the angles are considered, and will know the pros and cons of each. It’s worth the legal fee. Even if you are a lawyer, have another lawyer prepare your Will. Being too close to the situation will impair your objectivity.
• Have your Will prepared by a lawyer at a large legal firm. Do not use a sole proprietor’s legal office. Using a large firm protects you from a sole proprietor suddenly closing his practice without informing you. Furthermore, a large firm with several lawyers on staff means that there is more expertise on hand to deal with unusual or complex situations.
• Choose an executor you can trust implicitly. This is usually your spouse, sibling, child, or very close friend. Think about this very carefully because this person will have to make important decisions when you are no longer around to do so.
• Do not appoint co-executors. This can lead to unnecessary conflicts and delays in settling your estate. I know of one case where the co-executors are no longer on speaking terms. Choose one person to be the executor.

Dying intestate or leaving a poorly written Will, will undoubtedly create unnecessary hardship and additional grief for your family when you are no longer here. No one wants that.

References: 1. Click here for the information on Maradona. 2. Click here for the information on Robin Williams.