10 Great Reasons to Write Your Will
Many people make it a New Years Resolution to make a Will but before they know it work and family life soon takes over and they never get around to it. Not making a will is a missed opportunity to have your say about what happens after you die. Here are just 10 reasons which illustrate the importance of making a will:
A Will is the only way to ensure your Property and possessions will go where you want to. Nothing can beat the feeling of relief knowing that your loved ones will be financially secure after your death. If you have no family and do not make a will everything will go to the Crown.
2. You are Unmarried
If you are unmarried but have a partner who you would like to inherit in the event of your death, then you must make a Will. Unmarried partners have no rights to an estate of a loved one and will receive nothing.
3. Guardians for your Children
If you have children under the age of 18 your Will can stipulate who is to be a guardian in the event of your death. It would give you the security of choosing who is going to look after your children.
4. Prevent Family Feuds
If you do not leave clear instructions after your death then rifts may occur between your family members. This can be the result of one or more parties feeling that they are more entitled than others to certain assets. In writing your Will this can help to avoid any arguments and unnecessary expense and delay after you have gone. This can be particularly relevant if you have remarried and have children from previous relationships.
5. Skip a Generation
It might be the case that your children are financially secure and that you want your Will to benefit your grandchildren. A Will can be set up so that it skips a generation thereby ensuring your grandchildren’s financial security.
6. Change in personal circumstances
If you already have a will but have since married, entered into a civil partnership, separated, divorced or remarried then you must make a new will. If you are separated but not legally divorced and do not have a will your assets will pass to your spouse even if you no longer live with them.
7. Sentimental Items
If you have items of great sentimental value or family heirlooms then you may wish to stipulate in your Will who should have these to prevent arguments and ensure that the sentimental value will not be lost in years to come.
8. You’ve had a Windfall
If you are fortunate enough to come into some money, no matter what age, you should consider writing a Will. It is easy to forget to make such plans when you are enjoying an unexpected cash flow – however this often means that the money isn’t distributed in accordance with your wishes in the event of your death.
A Will can be set up so that your estate is donated to charity. If you have an organisation or support a group close to your heart which you would like to leave something to then we can write your Will to respect those wishes.
10. Keeping it in your own family
If you and your partner have children from a previous relationship or marriage then you may wish to leave your estate to your blood relatives as opposed to passing to your new partner’s family. You can arrange this by making a will. In the unfortunate event that you and your spouse died together then it may be deemed that the eldest person died first. If your spouse is younger than you then your estate would pass to them and could pass to their family either by their will or intestacy rules.
These are only 10 of the great reason to make Will and there are many more. Why not give us a call and find out how we can help you get the security and peace of mind that you deserve.
The Private Client Team
We have offices in Guildford, High Wycombe, Henley and Beaconsfield and are happy to see clients in any of our office locations or at home if it is not possible to travel.
Please contact – sales@Lawindexpro.co.uk – Direct Dial: 01628 496674 for more information