Unpredictability in life is one thing anybody can guarantee. Life is uncertain. And to add to this uncertainty, if there’s the element of intoxication, the consequences can be devastating.

Aaron Howard once said, “Responsible drinking? Now that’s an oxymoron.”

The immediate consequence you can comprehend from excessive drinking is that it affects your health. But if you think a bit harder, it affects your family as well. More so, their financial security.

In this blog, we talk about the consequences of drinking on your family and finances and how you can secure your family’s future. Let’s get started.

Statistics you didn’t know about

The alcohol related situation in India is more severe than you probably thought. In the year 2020, there were reports of 931 incidents of excessive liquor consumption leading to 947 deaths. Punjab alone reported 133 fatalities.

The WHO claims that alcohol is responsible for 2.6 lakh lives annually in India. It has caused liver diseases, cancer, road accidents, and more.

Financial impact of excessive drinking

You’re only aware that intoxication can be hazardous to life. Further, that can leave your family isolated at times of need, when you would be lying in the hospital or would be gone.

Legal issues, loss of income, and tons of hospital bills are a few possible problems that can be caused by irresponsible drinking. Moreover, if you are the primary breadwinner, it is your duty to secure your family’s finances regardless of life’s unpredictability.

How to secure your family’s future with a Will

A Will is your safety guard, irrespective of life’s uncertainties. Whether you’re a raging alcoholic or someone in your family is, and you’re worried about your family’s tomorrow, then here’s how you can take your first step:

• Consolidate assets & liabilities - Organize and secure all your financial assets and details in one place.

• Control asset distribution - In your Will, take your call about how you want to allocate your assets to their respective beneficiaries.

• Appoint trustees/guardians - If there are minor children, appoint a trusted legal guardian in case of unforeseen events.

• Express your personal wishes clearly - Mention charitable donations, organ donation, medical treatment preferences, and last rites in your Will, so the executor can execute all your wishes accordingly.

Final thoughts

Life is unpredictable, but it need not necessarily be the same for your family’s financial security. When you address the risks of intoxication responsibly and plan a Will to support your family, you ensure financial security for yourself and your loved ones.

Writing a Will is a step towards securing the future for your family and preparing them for uncertainties. AasaanWill makes things simple and easier for you. It’s all digital and legally compliant. Read what our users have to say about their experience with us and take your call.