Whether you’re about to reach retirement it’s is still a while away, it’s important to think about writing a Will. This article will go through the reasons why every retiree needs a Will.
You still need to be organised in retirement
Retirement isn’t just about relaxing. Once you stop working, you still have many responsibilities to take care of, including looking after your wellbeing and financial health.
Writing a Will allows you to make key decisions on what you would like to happen to your assets, properties and investments in the future. It gives you the opportunity to check your affairs and have a clearer understanding of your financial position.
You can document what’s most important to you
Writing a Will comes with making big decisions, from who you choose as an executor to who your beneficiaries are. Deciding how your assets are distributed is a big process, so it’s vital that your Will is as clear as possible.
On top of that, writing a Will allows you to think deeply about what’s really important to you and put that in writing. You’re able to address all the wishes you may have for your assets. For instance, some people value charity, so they write in their Will that they wish for gifts to be left behind to a specific charitable organisation.
Protect the wealth you worked hard for
It’s important to make sure your assets are protected. You want to have peace of mind knowing that after you pass away, your wealth will be passed on to the people you want to receive it.
By developing a Will, you can take stock of all of your assets and how you want them to be distributed. Having your wishes clearly outlined can help prevent any future family conflict.
Reassurance that your loved ones are taken care of
Everyone creates their own individual wealth, but your family could benefit from yours when you pass away. For instance, it could give them a financial head-start to pay off credit card or school loam debt, use for investments, build a business or even go on a long-desired holiday.
This is especially important as the cost of living rises and wages remain low. Again, it’s important to make your wishes clear when writing your Will.
Less worry, and more time to do the things that matter most
Most importantly, writing a Will gives you a peace of mind in general. You can enter retirement with reassurance that you’re looking after your loved ones, your wealth is protected, and that your wishes are known.
By having a Will in place, you can spend more time doing the things that matter most to you, whether that’s spending time with your family, travelling the world or enjoying leisure activities.
Learn more about writing a Will and get started with Safewill
Read more about how to write a Will on the Safewill blog, or get started on creating your own Will today.