Four good reasons to make a Will and keep it up to date
- Andy Ruck
- Aug 22, 2024
- 2 min read
A will is your opportunity to set out your wishes legally. It is a legal document that sets out the beneficiaries of your assets, how your estate will be shared and who will be responsible for executing the wishes laid out in your will. If you die without a will, those wishes may not be carried out
Remember family and friends Making a will is wonderful way for you to remember all your relatives and loved ones ensuring all those sentimental items are given to the people who mattered most to you during your lifetime. Your wealth accumulated during your life can be shared amongst all your family members exactly how you want.
Opportunity to leave a gift to a charity A will also allow you to exclude those people you do not want to benefit from your accumulated wealth which can be just as important for some people. This could be the case for married couples who have informally separated.
Peace of mind When a loved one passes away, it is a very emotional time for the family members who are left behind. The last thing they need is the worry and stress of having to deal with the finances of the estate. There have been many times when solicitors have had to console and consult with family members who are grieving and having the added burden of trying to navigate what the wishes of their departed loved one would have been with other family members. Aside from the distribution of assets which can cause contention, there is consideration around funeral wishes, whether a cremation or burial is desirable, which has caused major disputes between family members.
No will, no say If there is no will, you do not have a say in how your assets are distributed, and your family, and loved ones also have no voice. The law will decide, this means the rules of intestacy will apply and married, civil partners, and relatives can only inherit. Having a will in place makes the process so much simpler.
So, for peace of mind, we would recommend you consider making, or updating, a will so you can be assured your wishes are carried out in the future.
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