The Importance of Having a Will by ramazanku


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									What Does The Law Mean To You?

Although we all have an understanding of what law is, and generally why it's appropriate that it
should be in place to serve and regulate our conduct in society, we seldom think of what law
actually means in an everyday context. What is law for the average Joe in the street? How
does law impact on our lives from day to day? Indeed, is the law a distant concept with which
we find it hard to relate? In this article we will look at some of the fundamental ways law
operates in society, in addition to the nature of the law as we know it.

For some people, they feel as though the law is there merely to protect their interests, and that
they have no need for daily interaction. However, they assume that if the day comes where their
behaviour is called into question, the law will operate, the course of justice will be run, and the
will of the people will be fulfilled. This is perhaps a naïve interpretation of the function of law,
and indeed the way it operates in our lives throughout the day. For instance, at the top level we
have the constitution, establishing parameters within which the government can and cannot act to
protect the citizens of our nation. That has an overwhelming effect on the way in which our
government and indeed our country is run, which has a knock on effect on everything we do
throughout the day and how we do it. Even at a local level, the law interacts with the services
we are provided, the jobs we work and pretty much everything to do with the lives we lead. A
distant concept? I don't think so.

The law does not just operate in criminal spheres, nor is it confined to merely constitutional
matters and the distribution of power. Law is a significantly more sophisticated tool in the
orchestration of the day-to-day organisation of society, through regulating not only personal
conduct but also the way we act in business situations. Take for example the everyday task of
boarding a train. The law regulates many aspects of this feat: (1) the criminal law and the
constitution permits us to board public transport. (2) The constitution permits us to make
contract with another. (3) The laws of contract permit us to form a contract for transport with
the train company, and ensure that that contract is fulfilled. (4) The laws of contract and tort
allow us to board without fear of injury, or with remedy should the worst happen. Finally the
law of ownership and currency allows us to hand over money in consideration for this service,
which is of value to the other contracting party. In fact, the law regulates just about everything
we do, and is vital in doing so to ensure the smooth running of community and every aspect of
our lives.

The law is not some abstract notion that can and will protect us when we need to rely on it. The
law is an integral part of democratic life, and something which regulates our conduct, and in
essence allows us to act according to our own desires within reason. Some may think the law is
too restrictive in certain areas, but it works. The law serves its function as regulating our
behaviour very well, and if it doesn't? We can change it.

The fact is, law has been an important part of society since it began, with implied legal and social
orders and boundaries that could not be crossed. Today, it is a sophisticated network of
guidelines and regulations which is adapted to shape the way we live our lives from one day to
the next. There is no doubt that the law is important to the citizen, and plays a profound impact
on the lives of the people on a daily basis
Succession Law: The Importance of Having a Will

Although we might not like to think of it, death is a certain fate for us all. When we pass away,
our families will go through a stressful and traumatic time as they come to terms with their loss.
At the same time, there is a requirement for the administration of our estate, and this is usually
bestowed upon a close relative or friend during this already painful time. However, a lack of
foresight and planning can be catastrophic, leaving behind a tangle of assets and liabilities and
possibly a hefty inheritance tax bill, depending on jurisdiction. On top of that, the absence of a
will can mean a distribution of assets on the basis of standard 'default' rules, rather than on the
basis of your individual preferences. In this article, we will look at some common provisions in
the absence of any will, and aim to justify the benefits of making a comprehensive and clear will
during your lifetime.

Most jurisdictions will bear some liability to tax on death. This can be a specific problem for
the administrators of estates, usually close friends, who must ensure every known asset and
liability is accounted for before making legacies and signing off the tax bill. A major problem
comes with the personal liability attributed to the administrators, which means that should
anything 'slip through the net' which is later discovered, there may be increased liability to tax.
In practical terms, this could mean a surprise bill for several thousand which has already been
distributed in legacies and for which the administrator must personally account. Providing for
these outcomes in a will is one of the best ways of avoiding this hassle and stress, and it can also
be the best way to ensure all assets and liabilities are uncovered. By drafting an effective will,
you can be sure your loved ones don't face financial hardship after you're gone.

In the absence of a will providing specifically for the administration of a deceased's estate, it is
up to the laws of intestacy to determine what happens to the entirety of our worldly possessions.
Unfortunately, this doesn't usually correspond with the way we'd like things to turn out. For
example, in a number of jurisdictions there are automatic provisions for spouses and kids,
meaning you can disinherit, even with a will. There is also usually a default order of preference
of who gets what and how much they get, which doesn't necessarily match your favourite
relatives, or correspond to actual family set ups. In fact, cohabiters might run into problems
getting anything, including the house in which they live without proper testamentary provisions
in their favour.

As you can see there are a number of obvious benefits to drafting a will during your lifetime.
Sadly, many thousands of people die each year without making these provisions, and it really is a
real headache for their friends and relatives who are left with the burden of a fair settlement.
Intestacy causes hostility and stress, which can be readily avoided by just simply making a
written will. If you haven't made a will, it is probably a good idea to make a appointment as
soon as is convenient with a legal adviser to do so, to ensure your family are provided for as you
would intend and to promote a favourable distribution of your estate on death.

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