You are probably wondering “Why bother getting a will? I can take care of this later in life.” Some of you may even be saying “My kids will be ok, they’ll sort everything out later.” If you have any property or any children, then you need to bother. Anything and everything you care about, as small as it may seem, needs to be accounted for in your will. Having a will is arguably one of the most important things you can do for yourself and your family. Not only can a will legally protect your spouse, children, and assets, it can also spell out exactly how you would like things handled after you have passed on.
Here are few of the most important reasons why you should have a will:
First, You get to decide how your estate is distributed. Without a will, the state will decide who gets your wealth and how it is given to them. This can be a very costly process. Die without a will and there is no guarantee your wishes will be carried out. With a will you have a legally-binding document that spells out for your family the “who, what, and when” of how your wealth should be distributed.
Second, a will allows you to make an educated decision about who will care for your children. Without a will the court will use their own best judgement to find family members to care from them, or even select a state-appointed guardian. If you are concerned about someone raising your children, you need to have a will.
Third, with a will you can avoid a lengthy probate process. While many people think they can by-pass the probate process, every single death will go to probate with or without a will. If, however, you have a will then the probate process will be sped up. You will informs the court how you’d like your estate divided. Read our post on “dying intestate” for more information.
Fourth, You get to appoint an administrator and/or an executor. At times the same person can assume both roles, and at times they are two different people. What these two people do is tie up any loose ends and bring closure to your estate. The executor will pay off debts, outstanding bills, cancel credit cards, and notify banks, creditors, credit bureaus of your death. The executor plays the largest role in your estate. You’ll want someone you can trust, someone organized, and someone with the time to perform the task.
Fifth, As a Muslim you want to make sure that your values are protected. That means that Quranic injunctions on inheritance are followed and distributed accordingly, that your bequests and gifts from 1/3 or less of your estate are distributed, and that burial instructions are clear and follow the Sunnah. MyWassiyah includes all of these, making it easy to protect your family and your values after you have passed.
While there are many other considerations for having a will, these five are some of the most important.
Don’t let time pass without a will that ensures the above issues are taken into consideration,
start your MyWassiyah Islamic Will today.