Trusts
A will, as defined by the courts, is “a disposition or declaration by which the person making it (the testator) provides for the distribution or administration of property after his death” . But when should you consider writing a will? This question often gets overlooked amidst the busyness of everyday life. However, none of us have control over the ticking clock, and it is crucial to plan for the unexpected.
It is often said that timing is everything. So, when is the right time to consider putting your wishes on paper? Is it when you reach a certain age or accomplish a specific milestone? The answer is simple yet profound – the right time to write a will is NOW. It is recommended that all adults (18 or 21 years and above depending on the Law you are looking at) should have a valid Will that clearly communicates their desires and choices. You may argue that an 18- or 21-year-old may have nothing to bequeath; the point is writing a will is not just for the wealthy or elderly; it is for any adult who wants to protect their loved ones and maintain harmony even in their absence.
Imagine this: You are sitting at your desk, reflecting on life’s uncertainties. You remember that old Nigerian saying, “No condition is permanent," And it reminds you that life is fleeting and unpredictable. In this moment, you realize the importance of securing your legacy and protecting your loved ones from additional burdens in resolving inheritance issues.
Writing a will goes beyond asset distribution; it is about leaving a lasting impact. It ensures that your family, friends, and loved ones are taken care of when you are no longer here. It provides them with peace of mind during an already difficult time. A will serves as a powerful tool to ensure your final wishes are respected.
But here is the thing – writing a will should ordinarily not be a secret affair. It is an act of responsibility and consideration. Should you inform your family members when you decide to write a will? While you are under no obligation to share the contents of your will with your loved ones, notifying them about its existence and location can save them from confusion and potential conflicts in the future. It allows them to understand your intentions and respect your choices.
So, the right time to write a will is now – today, this very moment. Do not let procrastination or uncertainty hinder you from securing your loved ones' futures. Remember, a will is not just a legal document; it is a testament to the love and care you have for those closest to you. And what’s more? You can change or revoke your Will at any time during your lifetime.
Take charge of your legacy and create a lasting impact for future generations. As we say, "no wahala," – except the problem of not having written your will yet!
How do you feel about writing a will? Have you had any meaningful conversations with your family regarding this topic? Do you consider a 26-year-old too young to write a Will?