Seven Reasons You Should Have A Will In Place

1 - Your Children

Making arrangements for your children when you are not there to support them is the last thing we want to think about, but being prepared in case the worse happens is crucial. Appointing guardianship for them is the first step; who will take care of your children if you're not here. Secondly, you can also state financial arrangements to secure their future until they are of age to provide for themselves. 

2 - It Puts You In Control

Though it is not something we often think about, we all have an idea of what we would like to happen when we pass. We work 30/40 years of our lives; Intestacy rules most likely do not align with our wishes; having a legal document in place to state otherwise is vital.

3 - Avoid Family Disputes

The last thing we expect to happen when we pass is a dispute over who gets our estate, but it does happen. Having a clear, legal Will in place avoids probate and family disputes. 

4 - Wills Are Made For Your Family Circumstances 

Families, most of the time, are not straightforward. The rules of intestacy do not suit modern-day family life. A Will provides you with the power to allocate your estate to who you want, likewise who you do not. 

5 - Allocate Gifts

Your Will allows you to gift specific items. A list of chattels is included to allocate sentimental items we would like our loved ones to receive. The ornament your Grandchild adored growing up can be gifted to her if stated clearly in your Will. 

6 - Reduce The Stress Left On Loved Ones 

At a time when our loved ones will be grieving, don't leave them with the stress and cost of your estate going through the inheritance process. Have you put off writing your Will due to the cost? The price to have it written is considerably lower than what your family could be faced with if you pass intestate.

7 - Donate To Charity

Many of us have a charity close to our hearts. You can leave a charitable legacy in your Will. It's a great way to continue supporting a great cause when we pass. Leaving to charity can also reduce the amount of inheritance tax paid. 

Glossary;

Intestate/Intestacy: Not having a Will in place when one dies.

Probate: The legal process for reviewing a deceased individual's assets to determine who will inherit them.

Chattels: A list of sentimental items separately attached to your Will.

After reading this article, please get in touch with us if you feel like it's time to start your Will. We can help get your Will clear and legal.

Email:- jodie@thewillway.co.uk

Tel:- 01924 370385