Taking the time to sort out your
will is arguably one of the most important things you can do. It not only helps
your family once you have gone but is also worthwhile in terms of your own
wishes too. Many people in the UK though, still put off sorting their will out.
This can be for a number of reasons but it can often then leave things too late
to arrange. If you are wondering why you should get your will written before it
is too late, the below reasons should help.
It Divides Your Estate Up How You Want
Wills are legally binding documents which give you the final say on how your estate is distributed when you die. With no will in place, there is no guarantee your wishes will be fulfilled. If you want a certain piece of jewellery to go to a specific person or a certain amount of money to go to a charity, a legally binding will is the only way to make sure this happens.
Less Stress For Family
Writing your will also means much less stress and hassle for your family. It clearly sets out who gets what, so no arguments or fights break out between family members about it. It may also save them the hassle of going through an extended probate process to sort your estate out, at a time when they will be grieving. Although all estates go through the probate process, it is much quicker and less hassle with a will in place. It also avoids or minimises, family disputes.
Sets Out Who Will Care For Minors
There are a lot of specific things, Wills, help with; deciding who will take care of any minor children is one. Writing a will gives you a chance to consider this question properly, speak to the people you choose to get their agreement and then get it cemented in a legal document. Having a will ensures that the person or people you choose to raise your children will do so in a legally binding way.
Mitigate Inheritance Tax
If you are married, not having a Will may mean some Inheritance Tax will be payable. This is totally avoidable and you should speak to a professional to ensure this is done in such a way to protect all of your beneficiaries’ interests.
Avoiding Complications With House Ownership
If you are married with children, your house may end up being owned by your spouse and your children. This may sound fine but comes with risks for your spouse. For example, if one of your children divorces, or is declared bankrupt, the house may be at risk, possibly leaving your spouse homeless.
I am a professional Will writer based in Leicester with over 18 years’ experience in this area of law. Get in touch today for a friendly, sensitive service that offers free home visits and weekend and evening appointments to make the process as easy as possible for you or your loved one.