Making a Will is something that we all put off doing however it is one of the most important documents that you will ever complete. If you die without making a Will, the law may dictate how your assets are to be distributed and this may not be in accordance with your wishes. This could mean that your partner receives less than you would like, or that your assets pass to family members who may not need them. Having a Will also relieves some of the stress felt by bereaved family members at a very emotional time and sets out to them what your wishes are.
Why is it important to make a Will?
If you make a Will, you can decide how your assets are distributed upon your death. If you don’t, the law will dictate who gets your assets.
- You can also stipulate any personal gifts of property or money that you may wish to leave to family members, friends or charities.
- If you are not married or in a civil partnership, your partner will not automatically inherit your estate. By making a Will you can ensure that your partner is provided for.
- If you have children, you can state whom you would like to appoint as their legal guardian in the event they are under the age of 18. In addition you can ensure that you decide who looks after any money you wish to leave for them and at what age your children inherit such money.
- If you die without making a Will (intestate) the law will decide who inherits your assets. If there are not any relatives living at the date of your death then your estate will pass to the Crown.