You can put off making a Will until it is too late and this poses all sorts of problems for the people left behind. Not making a Will could mean that some, or all of your Inheritance either goes to the wrong person, or to the state.
Making a Will enables you to plan exactly what will happen to your property (Estate) following your demise. This ensures that those you would like to benefit actually do so, in accordance with your wishes, and at the same time avoiding any possible disputes between relatives.
Most important is the peace of mind making a Will provides.
Without a Will
• You cannot be sure those you would wish to benefit will actually do so.
• Your spouse/civil partner will not automatically inherit ALL of your Estate.
• ‘Common Law’ partners may not receive anything.
• Minor children could be taken into Care whilst Guardians are appointed.
• There could be lengthy delays for your Beneficiaries and disputes.
• You cannot prevent certain family members from benefiting.
• You will not be able to leave something to friends, colleagues or charities, which fall outside of the Rules of Intestacy.
In the time it takes to read this page, someone, somewhere will have died Intestate – that is, without leaving a valid Will.
If you would like to speak to a certified Estate Planner about your Will, please get in touch today.