The Importance Of Writing A Will For Dads

When we are in our early twenties and thirties the last thing on our minds is writing a Will. I know I definitely never thought about writing a Will at that age. I was young and indestructible. This is of course a misconception because truth be known we never know what the future holds for us and yes accidents happen that may end up sadly involving us passing away or we could end up with a terminal illness and this could happen no matter your age. So for me this is something that as a dad we need to think about more seriously. Once you become a dad then you should write a Will. So that if the worst does happen all of your affairs are in place for your loved ones. It’s also very important when you decide to have a Will written up that you go to a professional specialists such as Brodies who will look after your Wills and estates to make sure it will go to your loved ones once you are no longer here.

If you are busy and don’t have the time to visit a lawyer to write a will you can always go online and get a will kit. This will enable you to write a will at home when you have more time to make sure nothing is left to chance.

Here are a few reasons that I think are important that you have written a Will no matter what your age if you are a dad.

1. Making your family financially secure.

Generally speaking, although not always, the main income in a family household is the dad so if all of sudden you passed away it is, in my opinion, important that all your affairs are in order and your Will is correctly prepared so that your wife or partner and children are looked after financially. The last thing you would want is them worrying about how they are going to pay the mortgage and the household bills. Which leads me onto the next section…

2. Property.

A lot of married couples with small children will most likely have a family home that they are buying with a mortgage. If you are both earning then the chances are that you borrowed money that is related to your earnings. If all of sudden one of those incomes is taken away. the mortgage could become a problem to pay. This is where life insurance can play an important role. It could go a long way to paying off an existing mortgage. To ensure that there are no problems in your Will make sure that the beneficiaries are your spouse or partner so they can use the money to pay off something such as a mortgage. This will then help make your family financially secure and they can concentrate on grieving and putting their lives back together.

3. Gifting to your children.

If you have passed away suddenly and you don’t have Will, then the chances are that your children won’t receive anything to remember you by. This is why if you wanted to maybe leave a cash gift in Trust if your children are young, or a personal item that gives them a lasting memory of you. For me it’s so important that as a dad you have a well written, detailed Will so your wishes are carried out and also so your family are financially secure no matter what age you are. It’s a good idea to write legacy letters which also allow writing about past experiences, hopes, and dreams. It is also an excellent way to recognize the children or their loved ones on which they want to leave responsibilities and assets.

Do you have a Will written? I would love to hear your thoughts in the comments below.