Five reasons why you should have a Will in place
1. Ensure your Estate goes to the right people
Having a Will in place gives you the control of what happens to your Estate and assets once you have died.
Whilst we all hope that we are around for many years to come, sadly that is not always the case. It’s important to have the right planning in place today to cover any sudden events – Wills can be altered and updated as your circumstances change over time, but don’t put off your planning – it could be too late and your Estate may not go to those intended.
2. Choose who will manage your affairs upon your death
Executors are the people appointed by you, in your Will, to carry out your instructions and, as such, should be people that you trust, implicitly.
Depending on the size and complexity of your Estate, there is a lot of responsibility placed on the shoulders of your Executor(s). You need to ensure that the people you choose are happy to take on the role. The role of an executor is an important role and shouldn’t be a decision taken lightly when choosing who will manage your Estate after you have died.
3. Nominate who will take care of your children
If you have children under the age of 18 or who lack the capacity to look after their own affairs, you need to decide who should be responsible for their welfare, when you die.
A guardian will be responsible for all your children’s daily needs, including food, housing, health care, education, and clothing. And if you don’t nominate a guardian in your will, a court will have to choose one for you.
4. Provide a home for your pets
The law considers pets to be property, so you can’t leave any assets to your pet with your Will, but for those animal lovers amongst us, it is important to know your pet will be looked after in the event of your death so having a Will in place will allow you to choose a trusted friend or family member to look after “Fido”.
5. Marriage and Co-habiting
Did you know that marriage revokes an existing Will? Don’t let the excitement of newly wedded life forget this important step in your planning together.
If you are not married but are living together, your partner does not automatically inherit from you. Make sure you both have a Will in place to protect one another for the future.
Why not start your planning today…
It’s easy to make a Will and provide you with peace of mind.
We find clients often say they do not need to make a Will, as they do not have considerable savings or property. We believe that everyone needs a Will. Why spend years creating wealth and then make no arrangements for it after you have died to provide for loved ones, friends or charities?
If you have not made a Will, do it now – call us on 02380 879243 to book your appointment. And if you have already have a Will in place, we recommend you review this every two to three years to ensure it continues to reflect your current circumstances, wishes and requirements.