Wednesday, August 4, 2010
5 Reasons Why You Feel You Don’t Need A Will
Reason 1: IGNORANCE
Many people are unsure of the function of a Will and importance of having one to protect the future of their loved ones.
Reason 2: SUPERSTITION
Throughout history, people have felt that if they write a document pertaining to death, it is a sure-fire way to hasten their demise. Death is obviously a subject we do not want to think or talk about and we generally associate death with older generations.
Reason 3: AGE
So many young people do not have a Will simply because they feel too young ~ nobody is too young to make a Will. In fact, a Will has nothing to do with age or death, but to protect your loved one when you are no longer around. One is never too young, It can only be too late.
Reason 4: MISCONCEPTION
It is believed that only the wealthy need to write a Will, for they have many possessions. The truth is, writing a Will has little to do with your net worth and everything to do with leaving a legacy of love and care. We all have something to leave - maybe EPF, a low cost flats, a small car, insurance given by credit cards company, banks, handphone service providers or other even those long forgotten Savings Accounts you've had for years.
Reason 5: PROCRASTINATION
People think a Will is a complicated and time consuming document and best left to write when older, instead of wasting time in the prime of life. According to statistics, today only Seven out of ten people who need to make a will die without having done so. This often creates serious problems for their families and others whom they would wish to benefit. Many people make the mistake of thinking that their possessions will automatically go to their spouses, children, or relatives but this is not necessarily so. If you do not make a Will your property and possessions will be disposed of according to Government rules (Distribution Act 1958), which may not be as you would wish!
Every individual over the age of 18 should have a will, whether they are rich or poor, male or female, single or married. Without a Will, the law will decide and certain people who are dependent on you or your loved ones may not received anything.
"If You Do Nothing,
The Law Will Do It For You!"