Why Write a Will?

Writing a Will is essential part of life if you want to make sure that your possessions and money end up in the hands of the people and organisations you intended.

You should beware of the pitfall of assuming that everything will automatically go where you want it to even without making a Will – this is not always the case. Dying without making a Last Will and Testament is called intestacy, and people who pass away without having written a Will are intestate. Under these conditions, intestacy rules determine the recipients of the estate, and these people may not have been whom you would have chosen.

For married couples with a sizable estate, the spouse of the deceased only stands to inherit the first £250,000 of the estate and personal items unless specified in a Will. While this sounds like a lot, you may want to take into account the combined value of all your property and possessions – you might find your estate is worth more than you expected.

Writing a Will is even more important for unmarried couples, as cohabiting partners do not have any automatic right to their companion’s estate without one.

On top of that, it is essential to make a Will for the future of your children, if you have any. To ensure that they are cared for by somebody you know and trust, a legal guardian should be identified by the Will. If you die intestate, the government may elect someone you would not have wanted to take up the role as guardian. Through a Trust Will you can also select Trustees to look after items left to young children until the children are old enough to assume possession of them. You can also name your own executors to guarantee that somebody you trust will be in charge of administering your estate.

Wills are also invaluable because they can help you save on hefty Inheritance Tax (IHT), which estates of £325,000 or more are subject to. By having a Will drawn up you can get some idea of the value of your estate and take measures to reduce it so that the beneficiaries are not liable to pay IHT.

There is a long list of things you cannot do if you don’t write a Last Will and Testament:

* Pass your estate to an unmarried partner

* Decide how much money is left to each family member

* Specify who will become the guardian(s) of your children

* Leave something to a charity

* Leave a memento, e.g. jewellery to a friend

* Reduce any potential Inheritance Tax liability your estate may have

* Preserve your estate if you go into residential care

By not making a Will you would be leaving these key decisions in the hands of the court. As well as exercising your own rights to control your estate, you can save your relatives and loved ones a lot of hassle in the future, and prevent any disputes flaring up over who is entitled to what.

For the sake of your peace of mind it is worth taking the time to make a Will. With our service providers it’s no trouble at all and will only take a few minutes of your time. Professional wills start from £149.99 for a single will and £179.99 for a mirror will.

Call now on 08450 50 50 96 or alternatively send an email complete the form below: