death and dying

Preparation of a Will

2008

Preparing a will has a psychological , social , and economic value that goes along with it

Psychological Value of Preparing a Will Psychologically , preparation of a will is significant because an individual who dies or who will die will be assured that his or her properties /assets will be disseminated to those he or she wanted to have it and in the manner that he or she prefers (Bankrate , Inc , 2008 . A deceased individual will be more at ease knowing where his or her hard-earned assets

or properties went (Bankrate , Inc , 2008 . Also , he or she will be at peace knowing his or her beneficiaries will be taken cared of because he or she helped them (Bankrate , Inc , 2008

Social Value of Preparing a Will

Preparation of a will has a social value as well (Bankrate , Inc 2008 . This especially applies to those with substantial estates ' who would want to institute a living trust , which is an agreement between the grantor or the on who institutes and funds it the trustee or the one who is in charge of administering it (Bankrate , Inc 2008 . If the grantor dies , his or her assets /properties are automatically left to the trust and will then be distributed by the trustee (Bankrate , Inc , 2008 . It will be a great help if the trustee decides to give back to the community or society by disseminating some of these properties to them (Bankrate , Inc , 2008

Economic Value of Preparing a Will

There is also an economic value of preparing a will (Bankrate , Inc 2008 . Doing so saves the professional payments for lawyers for handling the process of presenting a will ' which is also approximately three percent of the In addition to that , the institution that houses it will also charge about a thousand dollars as an annual maintenance fee (Bankrate , Inc 2008

Reference

Bankrate , Inc (2008 . Preparing a Will . Retrieved January 11 , 2008 from

HYPERLINK "http /www .bankrate .com /brm /news /investing /c .asp http /www .bankrate .com /brm /news /investing /c .asp

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