Do I Need A Will?

Whilst this question can stir up difficult emotions for some, having a Will in place is crucial to ensuring you retain control of your assets and best protect your loved ones after you have passed away.

A professionally drafted Will allows you to set out your wishes clearly and helps ensure your estate is distributed as you intend.

Beneficiaries and the Rules of Intestacy

A well-known aspect of a Will is that it allows you to choose who benefits from your estate (beneficiaries) and how they benefit; whether it may be children, cousins, friends or charities.

Without a Will in place, your estate falls under the rules of intestacy. These strict rules stipulate which family members benefit in a set order. This can be a particular problem for unmarried couples, as the surviving partner will not benefit under these rules, and for estranged families, as those who you do not wish to benefit might.

A professionally drafted Will allows you to choose your beneficiaries, how they benefit and protects any decision to purposely exclude a close family member. Careful drafting can also help reduce the risk of a Will being contested, where a judge may ultimately be asked to determine whether someone has a rightful claim to part of your estate.

Specific Wishes

A Will allows you to choose and control specific wishes that would otherwise be decided by the law or left to others to determine after your death.

Specific wishes could include:

• Guidance around your funeral wishes;
• The guardians of your children;
• Who should care for your pet;
• The age your beneficiaries should receive their benefit; and
• The creation of a trust for a specific reason or for the protection of certain individuals.

These wishes require careful consideration and precise drafting. A solicitor can help ensure your Will is valid, reflects your circumstances and takes advantage of available strategies to achieve your wishes.

Your Will should reflect your individual circumstances and wishes.

Speak to us today to ensure your Will is carefully considered, correctly drafted and tailored to your needs.