 The Benefits Of A Will  |
The Benefits of a Will
Ram Das Singh Khalsa
Deputy Chancellor of Sikh Dharma
Regardless of whether or not you are married, or have children, or have much money or other property, having a properly prepared Will is important. A will is a legal document by which upon your death, you exercise control over various things. That is, before your death, you prepare a legally enforceable document which can determine what happens to your children, any and all of your property, your belongings, and your money.
If you pass away without a Will, then it is up to your closest living relative to make all decisions regarding the distribution of any property you might have. If you have no living relatives, the courts can appoint somebody, known or unknown to you, to make those decisions. For a single person who is not a parent, a Will can be used to confirm that you wish to have your remains cremated according to the traditions of Sikh Dharma. Many years ago, we did have a struggle with the non-Sikh mother of a deceased Sikh adult over how to conduct his funeral. He died without a Will and his mother wanted to have him buried according to the rites of her own religious practices.
If you are a Sikh parent, your Will tells the Court whom you want to bring up your child (or children) in the event you die before your youngest child reaches his or her 18th birthday. Your request is not binding upon the Court, but it does hold great weight with the Court should the Court be called upon to make a decision. And, without your Will stating your preference, the Court will most likely make its decision by choosing guardians from amongst your relatives with little or no thought being given to continuing with a Sikh upbringing.
Should you have any assets of value, your Will is your way of giving those items away. If you have begun to accumulate a fairly large estate, you should even consider having some sort of a Living Trust document prepared to go along with your Will. A Living Trust can be used to avoid probate costs and, at times, to even reduce inheritance taxes. Each state has its own laws regarding what is required to make a Will legally valid. Some states require two or three witnesses to the signature of the person whose Will it is. Some states require a Will which is 100% in the handwriting of the maker to be valid. Other states do not.
The cost of having a qualified attorney draft a Will for you is not too great. If you want to make clear provisions for how your children are to be brought up or if you want to be sure that certain of your assets go to your children and/or your favorite non-profit organization, a properly drafted Will is essential.If you have a Will already, but wrote it years ago, it may be time to review what you have. A will can be replaced or amended as easily as the original Will was created. An amendment to a Will is called a Codicil. Again, each state has its own laws covering what is required to make a Codicil valid. As with original Wills, replacing or amending your Will is best handled by a qualified attorney. Contact my office (310) 659-8844 if you want further guidance in this area.
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Hari Nam Singh Khalsa
We would like to Honor Hari Nam Singh Khalsa, an attorney from Portland, Oregon for supporting the legacy of Sikh Dharma through four avenues. Sikh Dharma is the primary beneficiary for his: a) Term Life Insurance, b) IRA (Individual Retirement Account) c) State Pension Plan and noted in his Will as the d) residuary benefactor in the estate.
God bless him for his foresight and commitment.