What Are Some of the Practical Benefits of Making a Will?
By: Shazia Butt
Making a will gives you an opportunity to declare the names of one or more persons; you want to manage your property and other personal affairs. Death is one thing in your life that is guaranteed, but normally you think the complete opposite. It is better to prepare a will while you are alive, because in case you don’t or are not able to, then the law decides on what exactly to do with your property, and how to distribute it. By making a will you can take control of how your property and other affairs will be dealt with after you die.
The Chinese people are very famous for their strong family values, and they highly regard peace and harmony within their family members. It is therefore very surprising that a lot of Chinese families don’t even consider making a will. According to them, the distribution of assets between the family members has caused many fights in the family and even several break-ups. On the other hand, there are some other Chinese people who believe that by preparing a will, they can avoid these factors. Want to know why is it important to make a will here in China, get in touch with the Chinese Simplified wills translation services.
Have you ever thought about those people who cannot read and understand the Chinese language? They can make use of the document translation services to help them out. There are many good practical reasons to make a will. Here are some of the best ones.
Providing Financial Security
Making a will is the most effective way to be sure that you have adequately provided enough for the person, who is closest to you. By doing this it will give you a lot of peace of mind, but your loved ones will also be pleased to know that you have given them the financial security they deserve. A will can therefore, be easily changed or updated according to your life circumstances or maybe even if your relationships change.
Making Gifts of Possessions
If you own any inheritance, antique furniture, items that contain sentimental value, or any valuable jewelry, you may want to make sure that it is forwarded to a particular member of the family, and then it is very necessary to include this in your will. Usually this gift is a specific legacy but the only way to forward this gift to your loved one is by adding a list of instructions in your will. A will is also a perfect way to pass on money to the person you want, in the form of a gift.
Paying Less Tax
In this regard you need to consult with your attorney, if there is any inheritance tax that is likely to be paid upon your death. By taking the help from your attorney will give you an opportunity to access the position you’re in, and also take the vital steps to minimize the inheritance tax liability. Thus, making a small amount of payment for making a will is much better than compared to the tax savings that can be made.
Numerous people while living in China are not familiar with the Chinese language. What they can do is, take help from the language translator services. Along with doing this, you can also get hold of the Chinese Simplified wills translation services, if you are confused about whether you want to make a will or not.
Appointing guardians for your children, especially if they are very young and cannot take care of themselves, is particularly very important. It is highly advisable to consult with the guardian you’re appointing at first, to make sure he/she is ready to take on this responsibility.
Specify Wishes for the Funeral
Whatever your preference for your funeral, making a will can enable you to leave certain instructions for your final farewell. And also, if you have any special wishes about your burial or cremation then, this is the right way to do it. You can even specify in your will if you want your body or any part of your body to be donated to the needy person.
In case you have any more questions on why to and why not to make a will and also what needs to be included, take advantage of the Chinese Simplified Wills Translation Services.