Futureproofing your loved ones
In law school, my lecturer had once driven in the importance of making a will. “You are never too young to make one,” he said in all seriousness. “It would be wonderful to live long, but there is always a chance you won’t. If you are above 21 or own anything at all, at any age, you should have a will in place. Spoken promises will not lead to desired results. You have a legal right to distribute your property if you have a will. And do not wait until you are 60.”
I’d hardly given it much thought — till Covid hit… well, I hardly thought I’d witness a pandemic as grave as this one. So, when I caught a cold and sniffled my way through a miserable week six months into the pandemic, I made the decision: to make my will. Who would have guessed that making a will would outweigh the need to survive this pandemic?
Now, I feel as though I found a place to lay down the burden I’d been carrying. I smile at the sheet of paper containing details of everything I possess and my legatees who will stand to gain — and I sigh in relief. For one day, I will be gone and I owe to my next of kin to leave behind a tidy situation. This pandemic has, in a twisted way, opened our eyes to a reality we cannot ignore. Rather, should not ignore. Even with my legal background, I, like many others, mistakenly believed they didn’t have enough in assets to warrant a will, or that my money and possessions would automatically go to my next of kin (in my case, my niece and nephews). Both assumptions were wrong. So, it is crucial to plan the future of your loved ones in a way that protects them as it is to ensure it is you who decides how your assets will be distributed.
Futureproofing in pandemic times – Read the full story HERE