SHOULD AN INDIVIDUAL HAVE A WILL?
Creating a “will” is undoubtedly essential for every single individual. This is true because it spares one’s family members from a “lengthy ordeal” with the state “probate courts.” Then these courts decide how your belongings and crucial assets will be divided among your loved ones according to a particular state’s rules and regulations.
Along with this, it can be seen that a number of people ignore the importance of wills in Dubai. They are of the view that a will is a piece of paper, and it does not hold any importance. So, many people do not opt for a will no matter what happens. But this is where one goes wrong. This thing is true that everyone has to die one day. If you have a lot of property, then there will be fights once you are no more. So, people should understand this thing that in order to prevent all such future issues, one should opt for a will.
If a person divides everything among his family members when he is alive, then there will not be any sort of fights in the near future. A person needs to give responsibility to a specific person when he is no more. This person will be the “executor” of one’s estate. One should surely remember this thing that an executor cannot be from their family.
This particular executor has a number of responsibilities. Like they should make sure that all sorts of taxes and loans are paid. This is quite essential because if all such things are not paid, then they can cause a number of issues in the near future for your near and dear ones.
A person should even remember this thing that choosing a good and experienced executor surely counts a lot. If you are not choosing one, then the “court” itself will choose one for you. Another important thing that a person should surely keep in his mind is that they should opt for such a will that is formally prepared. This is important because such a will is created in the presence of two or even three witnesses.
A formal will declares that any assets or money left behind by a person indeed belong to their family members. Like this, your family members or loved ones are save from all sorts of future hurdles or troubles too. Go here to know more about wills.