Why Make a Will?
If you care about what will happen to your family or your property after you die, you need to make a Will.
If you don’t have a valid Will, the law dictates what will happen to your assets and property. This can often have unintended consequences. For instance, many people believe that everything will automatically pass to their spouse/civil partner when they die but this isn’t always true.
The law also doesn’t recognise people who cohabit. Therefore if you die without a valid will, in that situation, your partner may receive nothing.
Making a Will ensures that your property passes to the people you care about and it saves your loved ones considerable stress, trouble, and delay in dealing with the administration of your estate.
'I Don't Have Much To Leave!'
This is a common excuse made by people who put off making a Will. However a Will doesn’t simply deal with disposing of your assets and property, it can deal with many other aspects too:
- Guardians - If you have children, you can use your Will to determine who will look after them if they are still minors when you die.
- Executors - These are the people who deal with administering your estate and carrying out your wishes. By having a Will, you can choose the people you trust to do this for you.
- Funeral Directions - By deciding what you want to happen in advance, it can make things easier for your family at a very difficult time.
What Else Can A Will Do?
1. Allow you to control when your beneficiaries inherit their share in your estate, which will be useful if you have minor children.
2. Allow you to provide in a structured way for beneficiaries who have special circumstances, such as those with a learning disability.
3. Help you consider and mitigate the effects of inheritance tax on your estate.
4. Enable you to plan for a situation whereby you or your partner need long-term residential care in the future.
5. Give you peace of mind!
Who Should I Talk To?
Our private client team has a wealth of experience and knowledge in relation to Wills.
For more detailed advice or information, contact our specialist team led by Emma Harrison on 01827 317081 or eharrison@pickerings-solicitors.com
They will be happy to advise on ways of planning for your future and answer any questions you may have.
