Do I need a Will?
Without a Will you die intestate.
The Law decides who gets what and how much.
The taxman could benefit before your family.
A Will defines what you want after you are gone
Young children could be made ward of court.
Children may lose an inheritance
A will can ensure children get an entitlement if a parent remarries
Un married couples don't have the same rights as married couples.
married includes civil partnerships
A Will can prevent family feuds and disagreements
A Will is legally binding and “speaks from the grave”
A Will does not have to be expensive
A will gives clear instructions for the Executors
No one dies from making a Will
Twice as many people die without a Will than those who have written one
The Law of intestacy only makes limited provision for a spouse which might not be enough
Your “Will” is the only legal way you can express your wishes when you are gone. The vast majority of people put off making a Will for a variety of reasons, either believing that the people they would wish to inherit will automatically do so, or because they don’t think it is relevant to them at this particular time. In reality many put off making a Will until it is too late and this poses all sorts of problems for the people left behind and could mean that some or all of your inheritance either goes to the wrong person or even to the state.
Affording you Peace of Mind
Firstly and most importantly is the peace of mind making a Will provides. Making a Will enables you to plan exactly what will happen to your property (estate) following your demise. This ensures that those you would like to benefit actually do so, in accordance with your wishes and at the same time avoiding any possible disputes between relatives.
Who needs to make a Will?
The answer is everyone. In particular, anyone with dependant relatives, (children under the age of 18, elderly relatives or relatives with a disability who have special needs), anyone who owns property or has any type of asset which they would wish relatives, friends or charities to benefit from.
But won’t everything go to family automatically?
Dependant on the size of your estate, there are set rules which will be applied to determine who inherits and how much if you do not make a Will.
So what happens if I don’t make a Will?
This is called dying Intestate. There are specific rules of intestacy which set out who will inherit and by how much if you do not leave a valid will, this may not be what you would have wished for and in the worst case scenarios where relatives cannot be traced, your assets will be taken by the Crown.
A will tells the world what you want at a time when you no longer can.
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