Reasons to make a will
There are a lot of reasons why people think that they do not need a will, however, for the majority of us there are a number of important reasons why we should.
- If you do not make a will, the law imposes a statutory scheme for the distribution of your estate. It is important to note that if you are married this does not necessarily mean that your spouse will receive everything. If you're not married, in the absence of a will your partner would have no entitlement under this statutory scheme.
- When making the will, you need to consider the appointment of executors. Executors are individuals you select to act on your behalf in the administration of your estate and to carry out your wishes. If you do not make a will, then this will fall on certain beneficiaries who may not be particularly suited or able to undertake this task.
- In making a will you can choose who you wish to benefit.
- If you make a will and you have young children, it will enable you to appoint testamentary guardians for them.
- If you have a will in place, it is a clear instruction as to how you would wish assets to be dealt with and provides certainty as to what you want to do.
It is, therefore, quite easy to see that it is extremely important to think about making a will.
If you are thinking about making a will and would like to discuss this further, please do not hesitate to contact one of our wills, trusts and probate experts on 01245 453833 or alternatively you can email me at email@example.com.