Writing a will might not be at the top of your ‘to-do’ list, especially if you are in good health and enjoying your busy life. You could be forgiven for not wanting to start thinking morbidly about what’s going to happen after you are gone. However there are so many reasons why it’s a good idea to get a will in place.
Not only does a will make it clear to your family exactly how your affairs should be managed and where your assets are going; it actually serves as an incredibly important legal document. A will carries a lot of authority. It can be used to sort out complicated disputes and confirm your wishes so that a lot of confusion and emotion can be avoided.
You don’t have to be super rich to need a comprehensive will. Your financial and personal affairs can be streamlined by a legally binding will and this could save a lot of hassle for the family you leave behind. You also want to know that your family aren’t going to have to dispute anything once you are gone and even if this is about the smallest possession, at least it is down in writing and nobody can question it or get worried about it.
Keeping it legal
Writing a will needs to be done in a legal context with the assistance of an experienced solicitor. It is not enough to simply write it down on a piece of paper and hope that this serves as a will. It won’t be legally binding and this is the last thing you want for your loved ones to have to deal with.
Still need to be persuaded?
Here are 10 reasons to draw up a will for the sceptical:
- All that you own
A will makes it perfectly clear who is to inherit every possession.
- Saying goodbye
It’s important to some to arrange their funeral and you can do this in detailed fashion in your will. This will also help your family at an emotional time.
- Avoid the courts
If the will covers your assets and financial affairs in detail then you should hopefully avoid any disputes in court about how your money and property should be distributed.
- Your state of mind and intentions
A will can be useful in confirming your mental capacity when you decided on your final wishes and make it clear what your intentions were.
- Banish family feuds
After losing someone families can descend into full blown feuds – a will can help avoid this.
- Government intestacy rules
The government can actually intervene if your will is not comprehensive and legal.
- Protection in life and death
During your lifetime a will can be used to protect your finances if your mental health is under question at any stage.
- Inheritance Tax
Solicitors can help you to split any inheritance in a will avoiding huge taxes for your family.
Just knowing you are leaving something behind will give you comfort.
Your will can ensure your assets go to your partner even if you aren’t married.