Wills are one of the most important pieces of legal documentation that you can have.
Wills are also the one thing that’s furthest from your mind most of the time, until you see something that makes think about Wills, or you know of a friend or colleague who passed away without one and you heard about the problems that their family encountered following their death.
In this country, we seem unwilling to consider the eventuality of our deaths and the consequences that it could have on our loved ones. In fact, it’s generally accepted that over 70% of the population of England have not made Wills.
Don’t be one of them.
“In this world nothing can be said to be certain, except death and taxes.”
Benjamin Franklin 1706
Wills – Why You Should Make Yours
Making a Will today will save your loved ones a lot of pain and anguish tomorrow. It will also ensure that you don’t pay more than you need to in taxes when you die.
It is a fact of life that dying is something that happens to us all, rich, poor, old, or tragically, young. And when you’ve worked hard for your entire life it would be nice to know that the fruits of your efforts will be passed on to your loved ones.
Unfortunately, if you die without making a Will, then the statutory provisions would apply and the people you want to benefit could be left with nothing.
Making a Will is the only way that you can properly ensure they do not lose out.
What If You Die Without A Will?
If you are single or married and die intestate, i.e., without making a Will, the law dictates that the courts will divide your assets according to a rigid formula and what this may be a long way from what you wanted to happen.
This often leads to arguments when people who believe that they should be entitled to an inheritance are left out, or receive less than they were expecting. It also means that there will be delays during which your bank accounts could be frozen, leaving your loved ones without access to funds.
Which is why it is essential that you carry out proper estate planning and make a Will as early as possible, to protect your family from the possibility of the courts distributing your assets against your wishes.
Protect Your Wife Or Partner And Children
The prime aim of making a Will is to protect your wife, partner, children and assets. Your Will is written to stipulate exactly what you want to happen to your assets following your death and will vastly reduce the possibility of family fall out regarding your wishes.
Making a Will also means that you can decide who will look after your minor children through the appointment of guardians.
If you do not have a Will a court will decide who will look after your children. It could be that a member of the family or another guardian is appointed by the court, or worse still, someone you would not wish to raise your children.
When you have children from a previous relationship, they could end up with nothing. If you have a vulnerable child, the inheritance they receive could be at risk from greedy ‘friends’ who might take advantage of them. If your spouse or partner marries after your death, your children could receive nothing.
Or, if you are cohabiting, your lifetime partner could end up with nothing.
Avoid Probate Delays
The probate process is something that all estates must go through, with or without a Will. If you have a Will then this significantly speeds up the probate process.
Without a Will, the court will decide how to distribute your estate and this may take considerable time and heartache for your family.
Don’t Overlook The Benefit Of Gifts
One very good reason to make a Will is that it enables you to make gifts and leave legacies to your family or friends. Gifts can become effective either on your death or sooner if your spouse or partner dies before you.
What’s more, subject to when the gift was arranged, gifts are excluded from death duties, which means that that the value of your estate will be greater than it might be without having made them.
The Three Simple Steps To Making Your Will
1. Call Chambers & McClay on 08000 322 477 or email here
2. Arrange your telephone interview and agree your fee
3. Our expert consultants will write your Will to meet your wishes
Fixed Fee Will Writing By Chambers & McClay
You can find out all you need to know about Chambers & McClay Legal Services and the benefits of making a Will by downloading your copy of the ‘Live like there is no tomorrow’ PDF here.
With proper estate planning and a professionally written Will you can protect and secure the future of your family and friends.
Having a professionally written Will means you have:
- Peace of mind having chosen the person you trust to act as executor and to ensure your wishes are carried out
- The knowledge that you have set out your funeral arrangements
- Appointed guardians to have parental responsibility of your dependants or children under the age of 18
- Decided who should receive items with sentimental value, rather than all your possessions being treated the same way
- Provided for friends or charities or other organisations that would not benefit if you died intestate (without leaving a Will)
- Helped prevent family disputes by making your wishes clear
- Minimised tax liabilities following your death
- Made special provisions for children who have health, matrimonial or financial problems and ensuring they benefit from your estate
It’s Important That You Get the Right Advice
With the right advice, your lifetime’s work can be protected for the people you care about. It takes approximately one hour and it is then one less thing you have to worry about.
Call Chambers & McClay now on 08000 322 477 or email here to discuss your Will. You know it makes sense.