A lot of people put off making their Wills until they are in their mid 50’s. However, if you have children who are below the legal age to live alone, making a Will is especially important to ensure guardians are appointed to care for your children in the event of your death
Making a Will is an easy process and one which ensures that your assets go to those you wish should have them.
If you do not have a Will your spouse, civil partner or partner may not get what he or she is expecting. Civil Partners are treated as if they were married. The Rules of Intestacy determine how your estate is to be distributed after the payment of all your debts and liabilities, testamentary expenses and funeral costs.
An estimated two thirds of people never make a Will. They are often surprised to learn that loved ones do not automatically inherit. In particular, a live-in partner (not in a registered civil partnership) would receive nothing at all as of right. This is because the Rules of Intestacy do not recognise 'unmarried partners' (although civil partners are treated the same as spouses) and therefore no provision is made for them. Making a will can remove much of the unnecessary worry and problems you could leave behind and can also reduce your family's liability to Inheritance Tax.
Your Will should be reviewed at least every 5 years and after any major changes in your life such as moving house or the arrival of grandchildren.
Please contact us if you would like more information regarding Wills, Probate or Lasting Powers of Attorney.