- Why should I make a will?
Planning for the future is an important part of life. Gaining the peace of mind that comes from knowing your relatives and loved ones will be properly provided for and inherit your assets as you would wish can be priceless. By not making a legally-binding Will after your death your assets will be distributed according to strict intestacy rules which may not be how you wished for them to be divided.
Another benefit of making a Will is that you can appoint people to carry out your wishes — these are known as executors of your Will and can play an important part if you believe there could be a family dispute over the assets involved after your death. If you have children a Will can also be used to appoint guardians in the event of your death.
- Is making a Will expensive and complicated?
By using a solicitor who specialises in Wills, Probate, Powers of Attorney, Court of Protection work and other Private Client issues you should receive appropriate advice in a cost effective, sensitive and professional manner. If you choose to use Jordans your dedicated solicitor will meet with you to discuss your individual requirements and circumstances before drafting your Will. We also advise on inheritance tax payable on your estate in the event of your death should you wish to discuss this.
- When should I make a will and when should I review it?
Anyone aged 18 or over can make a legally-binding Will but we find that some of our clients make a Will around the time of these major life-events: Buying your first house, or another substantial asset; Getting married, entering into a Civil Partnership, moving in with someone (Cohabiting), getting engaged, Having children.
You can change your will at any time provided you are of sound mind. It is recommend you review your Will when there is a major change in your circumstances such as; having children, divorce or separation, starting your own business, if one of your chosen executors or beneficiaries dies, and/or entering into marriage/civil partnership or cohabiting with someone. It is important to note that getting married or entering into a civil partnership automatically revokes your Will and you will need to make a new one.
If you would like to discuss anything in this article please call us on 03303001103 or request a call back at the bottom of the screen.