Without a valid Will, the ‘Laws of Intestacy’ take over, distributing your assets in a standard way that may not reflect your wishes. This can lead to confusion and potential conflict among loved ones.
Your estate will likely go through Probate before heirs can receive their inheritance. A Will designates an Executor to manage this process, ensuring it runs smoothly. Without a Will, the process becomes more bureaucratic and time-consuming.
Inheritance Tax on your estate can also be affected by who inherits. Intestacy laws may result in more of your estate being taxed than if a Will was in place.
For those with young children or vulnerable adults who depend on you, a Will allows you to appoint guardians for their care. Without a Will, the state will make this decision for you.
Making a Will ensures your wishes are honoured and your loved ones are cared for according to your preferences.
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Why You Should Make A Will
Ensure Your Wishes Are Carried Out
A Will gives you control over what happens to your assets after your death. Without one, the law decides who inherits your estate, which may not reflect your personal wishes.
Appoint Guardians for Your Children
If you have children under 18, a Will allows you to name guardians to care for them. Without this, the courts may decide who takes on that responsibility.
Protect Unmarried Partners
Unmarried partners aren’t automatically entitled to inherit under intestacy laws. A Will ensures they’re provided for according to your wishes.
Reduce Family Disputes
A clear, legally binding Will can help avoid confusion or disagreements among loved ones, reducing stress during an already difficult time.
Minimise Inheritance Tax
Careful estate planning within your Will can help reduce the amount of inheritance tax payable on your estate, leaving more for your beneficiaries.
Provide for Specific Gifts and Charities
A Will allows you to leave meaningful gifts, such as money, property, or personal items, to specific individuals or charities.
Appoint Executors You Trust
Your Will lets you name the people you want to handle your estate, ensuring your affairs are managed by those you trust.
Plan for Blended Families
If you have children from previous relationships or a complex family structure, a Will ensures everyone you care about is considered.