Insights into Will Writing and Estate Planning – Getting it Right
It is a universal observation that most people keep putting off writing a will even when they are aware of the consequential problems that could emerge by not having one in place.
Introduction
There are a host of reasons for this inclination in people, but what is widely acknowledged is that people generally prefer not to contemplate or dwell on the reality of the expiration of life. Understandably, the thought of mortality is dispiriting to all but the most rational of people. Hence their inaction is driven by an ingrained attitude that it will be done at some point in the future – given that people in their natural logic hope for and expect to live a long life. Following this thinking, most people take comfort in the belief that everyone will eventually get a chance to put a Will together before the occurrence of the inevitable life event. Said differently, there is no fuss or urgency about writing a Will.
This remains the established mindset for many of us, albeit a flawed one – given that longevity is not promised to anyone, and mortal events are random. Often, unexpected life imposes on us the urgency to write a Will with little time on our hands to do so in a good state of being; or in more unfortunate circumstances, the inevitable occurs suddenly, and it then too late to put one’s house in order – throwing family members and loved ones into an undesirable situation that could have been avoided by far-sighted planning.
A crisis, as they say, presents us with opportunities to make positive changes. The recent global pandemic is a high impact event that should reset our thinking about our existence and the inevitability of the aftermath. Writing a Will is both a rational and pragmatic thing that should be taken seriously by everyone.