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Raising Individual Financial Awareness - Essay Example
Finance & Accounting
Pages 7 (1757 words)
The report also talks about important factor considered in calculating and understanding how a will affects the lives of the deceased and why it is important to have one. The report is comprehensive and entails all the financial and accounting details that the Murrays can implement to solve their financial issues…
This paper stresses that a will is a document that leaves instructions about what one wants to be done with their personal possessions, land, and estate after one dies. There are many reasons as to why creation of a will is very important. One of the importance of a will is that the individual guarantees that his or her possessions will go to the preferred recipients. The existence of a will speeds up the process of the court review effectively. The deceased may also outline how he or she may want their properties to be used in the future. Another decisive factor is that a will prevents the need for the court to order the relatives to produce financial paperwork such as financial statements to distribute the assets of the deceased fairly. A will is used to guarantee the guardianship of the children of the deceased by stating who the desired guardian of the children is. This is usually important for parents that have young children. It can also provide conditions that limit when and under which circumstances the beneficiaries may access the inheritance. For example, the deceased may provide a condition that one of the beneficiaries can only have access to their assets when they attain the age of 25. Most importantly, a will prevent fighting within the family and ensures that the spouses are well taken care of when the individual dies.
This report makes a conclusion that there are several buy to let mortgages available in Oxford. After a careful research into the market, an option for Anne Murray was available, that could make his venture profitable. Anne Murray can be able to get a viable buy to let mortgage from one of the 20 best available mortgages provided by Mortgages for Business Company. ...
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