Making A Will Is A Good Idea
If you are over 18, you are entitled to make a last will and testament. It may not seem like a priority, but the benefits of doing so are considerable.
Only one third of adults in the UK have a will, with as much as half of the population unlikely to ever get one. To stand apart from the crowd and look after your loved ones in the event of your passing, maybe it’s time to contact a family solicitor to discuss your situation.
Here are 10 reasons why making a will is a good idea.
1. Are you in a long-term committed relationship, but don’t have a will? If so, there is a good chance they could end up with nothing if you were to die.
2. Not having a will could cause friction within your family, as it could lead to expensive delays.
3. If you don’t have a family, but have always thought it would be a nice gesture to leave your estate with a charity or close friend, you need a will to make sure this will happen. Otherwise, it would all go to the government.
4. Have your circumstances changed, such as the arrival of a new child? Then having a will means they can be looked after after you’ve gone.
5. If you’ve recently made a significant purchase, like buying a property, then your family could miss out on their share if your will isn’t up to date.
6. If you’ve been divorced, there’s still a chance your former spouse could receive a share of your estate no matter what their new circumstances are.
7. If you already have a will but then get married, the original will then become null and void. Make sure the will you have in place is enforceable.
8. By having a will, if you were to die and leave all your possessions to your spouse or civil partner, they will escape having to pay inheritance tax because they are considered to be an exempt beneficiary.
9. Have you considered who would raise your children in the event of your death and the death of the other parent? Your will can stipulate your request for a friend or family member to be your children’s guardian in your will.
10. A will can help you set up a trust fund for your kids that includes rules to protect the money from youthful irresponsibility.
