Your wealth, your control

Life is filled with memorable moments, such as getting married, buying a house, having children, and planning for retirement. Each of these milestones marks a different phase of your journey and affects not only your future but also the future of your loved ones.

“One often overlooked but extremely important milestone iscreating a Will”

A Will is a legal document that sets out how you want your personal assets distributed after death. Although it may appear to be a grim subject, it is, in fact, a document full of care, thoughtfulness, and affection. This critical step in financial planning is crucial for safeguarding your life earnings and looking after your family.

But what makes discussing a Will so important today?

Without a Will, the government may hold the right to decide about your asset's custody. Depending on personal circumstances and the state you live in, the rules differ.

With no Will in place, the law decides the custody of the minor children, and you leave the decision-making to the courts, which may cause outcomes that do not align with your wishes or the best interests of your loved ones. It’s a situation that no one wants to find themselves in.

 
Creating a Will is critical in taking charge of your life and legacy. Here are six ways how:

1. Streamline court process: A Will helps speed up the court process by letting you name someone to manage your estate, making things easier for your loved ones.
2. Control asset distribution: With a Will, you can clearly state who gets what, ensuring your assets are fairly shared and keeping them from going to people you didn’t intend.
3. Nominate guardians for minors: A Will is essential for naming guardians for children and stopping the court from making this critical decision if both parents pass away.
4. Manage digital assets: A Will lets you name a digital executor to take care of your online accounts, important files, and other digital assets after you’re gone.
5. Prevent family disputes: A well-detailed Will stops your family from having to guess what you would have wanted, lowering the chances of arguments and lifelong disputes.
6. Ensure peace of mind: Making a Will means you’ve done everything possible to protect your loved ones’ future and ensure your wishes will be respected.

True financial freedom for your loved ones

Dying without a Will is known as dying ‘intestate,’ In this case, your estate will be distributed according to the law. The law, varying from state to state, will dictate the distribution of your possessions, potentially leading to unintended beneficiaries and higher taxes for your estate and the recipients of your assets.

Creating a Will expresses love and responsibility towards your family and is fundamental to shaping your family’s financial future. It directs the distribution of your assets according to your desires and offers clarity and guidance to your family during challenging times.

A Will is the cornerstone of your financial planning

The real challenge in creating a Will is often not a lack of desire but a lack of understanding of the relevant laws and the connection between a Will and a family's financial future. This is where consulting an expert becomes invaluable.

At MyfinGraph, we are the resource enablers and we are happy to help. While we have been supporting families with wealth-creation strategies for a cash-flow-rich future, our legal partners can assist with Will preparation needs too. Having a Will in place ensures that everything you have worked towards does not go to waste.

Remember, establishing a Will is not an end; it’s the beginning of a life full of peace of mind.

Please connect with us if we can assist you further.