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Why Make a Will?
Making a Will.....
- ensures that what is yours goes where YOU want
- is an un unselfish act to protect your loved ones when you are no longer able to
- brings peace of mind for you and reassurance and security for those you love
Making a Will is the only way to ensure that your wishes are carried out after your death. If you have not made a valid Will, your property will pass according to the rules of Intestacy which may not be what you have wished.
In any event it is likely to take longer and be more costly to finalise than if you had made a valid Will. During this time your beneficiaries may not be able to draw any money from your estate. It can mean arguments and distress for your relatives.
There may also be financial benefits as a Will can be drawn up in a number of ways to minimise your estate's liability to Inheritance Tax and sometimes Capital Gains Tax.
Making a Will lets your loved ones know that you cared enough to 'sort things out' in advance.
By making a Will, you can.......
...Have the peace of mind that you have done the right thing for your loved ones
...Decide how much money is left to each of your family members
...Specify who will become the guardians of your children
...Pass your estate to an unmarried partner
...Select who you want to be the excutor of your will
...leave something to a charity
...Give a treasured memento to a good friend
...You can choose who is to be responsible for winding up your estate (Executors). If you die without a Will the courts will make the appointment.
It is important to make a Will........
If you are a single person you may wish for your estate to be distributed amongst friends; relatives; charitable bodies or institutions of your choice and in the proportions as specified by you. Otherwise if you die without making a valid Will (intestate) your estate will fall under the rights of Succession and if you have a partner they will receive nothing. (For Scottish Law See Scottish Rights of Succession)
If you are married or in a civil partnership do not presume that your spouse will get everything. Your siblings or parents may have a claim against your estate. Often, your children will have a right to part of your estate. If you are living as an unmarried couple you could be treated as a single person with your surviving partner receiving nothing at all. One thing you can be certain of - there will be arguments and disputes at a time when the family should be coping with the loss of a loved one. (For Scottish Law See Scottish Rights of Succession)
If you are divorced or remarried a previous Will is invalid for all of the UK except Scotland where a previous Will is not invalid. So in Scotland if you do not make a new Will a previous spouse may be the main beneficiary under the old Will (For Scottish Law See Scottish Rights of Succession)
If you are a parent with children under the age of 16 you should make a Will and you may wish to consider who will look after your child/children in the event of your death. This is particularly important for single-parents and unmarried fathers without parental responsibility (PR) for births prior to December 2003. making a valid Will nominating guardians is invaluable in such cases. If no one knows what you would have wanted, the Court will decide on the future of your children, and it may not be what you would have wished. (For Scotland See Scottish Rights of Succession)
If your are retired maybe you made a Will a long time ago. It probably needs updating to include additional grandchildren or deletion of persons whom you no longer wish to leave anyhing to
If you have pets you can decide to make provision for their future care and wellbeing by making a Will
Making a Will brings security, reassurance and above all peace of mind - not just for you, but for all those who depend on you, either now or in the future. Having your Will written isn't the daunting prospect you might imagine. Indeed it gives most people a feeling of great relief.
For a Free consultation or information pack on making a Will contact us now at: email legalwillwriters@gmail.com or call 07485 418270