subject: A Briefer on Wills [print this page] A Briefer on Wills A Briefer on Wills
A very timely and good read for all patriarchs is Dennis Gac's The Fathers' Rights Asset Protection Plan. It tackles a variety of issues and rights that most fathers may not be fully aware of. What stood out from all the topics enclosed in this book is the importance and definition of a "Will." So, what exactly is a will, and why is it so very important to secure one while you are still alive?
A will is a legal deed that will document your discretion on how you want your assets be distributed when you die. This will contain clauses that you yourself have created in order to allocate your wealth to your family, relatives, charities and the state in time of your death. Say for example, you want your house to be given to your eldest son and your antique collection to your only daughter. As you wish, you may also want to give a portion of your properties to other specific beneficiaries or organizations.
A will is also a gesture of love, especially to your minor kids. In this document, parents will be able to nominate trusted guardians to look after your children. Courts would usually have the final decision in appointing guardian of the child in time of parents' death. However, most often than not, the court honors the parents' nomination as stated in the will. If the will is not executed prior to death, the state will be in full authority to decide where your assets will go. This may not be what you would have intended. To know more about the details of how to execute a will and the vitality in plays in your life and the lives of the people you will leave behind, browse through Dennis Gac's The Fathers' Rights Asset Protection Plan.
