Have you ever asked yourself, do I really need a Will? At various stages of life, many of us consider preparing a Will, however in reality it is something many of us actually delay doing.
When you write a will, you can be in control of how your estate is divided and ensure your wishes are met. If you fail to have a will, this can result in significant issues for the people you leave behind.
- A Will puts you in control of who will benefit from your estate and by how much as well as detailing what they are entitled to.
- Avoid intestacy. Are you aware that the only way to ensure your estate passes in accordance with your wishes is by writing a Will.
- If you have children under the age of 18 you can appoint Guardians of your choice to care for your child if there is no surviving adult with paternal responsibility.
- Your Will enables you to choose someone you trust to administer your affairs when you pass away.
- Making a Will allows you to preserve assets for beneficiaries; examples of assets include your home or other property you may own, savings and policies.
- You can also leave gifts of sentimental value in your Will to someone you wish to give a personal gift to.
- Writing a Will can ensure Inheritance Tax is kept to a minimum. A Will also allows you the option of establishing a trust for inheritance to protect as much of your estate as possible for your children.
- You can include gifts to charities in your Will, which are inheritance tax exempt.
- A Will makes it much easier for family and friends to arrange everything after your death. Without a will, this can be a very stressful, difficult process.
- It is important to review your Will every 5 years should there be major changes in your life such as marriage, divorce, having a family, buying or selling property of if the executor of your will dies.
Choosing a qualified solicitor to write your will
It is important to arrange your Will through a qualified solicitor to avoid disputes arising after your death. We are qualified solicitors experienced in preparing wills, inclusive of complex assets.
To arrange an appointment to discuss the preparation of your Will, please contact us on 028 7963 2030 or email info@bernadettemulholland.com.