Why are Wills important?

It’s important to make your own will, and we at Ascroft Whiteside can help and support you through your journey of creating one. Here are some reasons for why it is important to have a will –

•    Making a Will ensures that your wishes are carried out and that your loved ones are provided for after your death.
•    Dying without a Will could result in your family suffering from legal problems as well as trying to cope with the loss of a loved one.
•    If you die without a Will the laws of intestacy determine who will inherit your money and property, meaning that it may not go to the person you want it to.
•    A lot of married people automatically assume that their possessions would go to their partner, but this is not always the case and in some circumstances could be left with nothing.
•    If you have children it is especially important to make a will so you can appoint legal guardians in the event of your death.

What do I need to know about making a Will?

•    You can write your own will but it is important to get legal advice and to set up a meeting with a solicitor to take you through what you need to know, as well as making sure that your will is interpreted the way you want it to be.
•    You also need to get your will formally signed and witnessed in order to make it legally valid.
•    Think about who you want to make a benefactor and whether you want to give a gift to an organisation or charity.
•    It is important to think about who you want to look after your estate and carry out your wishes after your death as well as what you would want to happen if the benefactor you have chosen dies before you do.
•    Sometimes complexities of life make wills not as straightforward and this is when you need legal advice to help make your wishes clear.
•    It is important that you keep your will safe and that the person who you want to carry out your wishes knows where it is kept.
•    It is important to review your will every five years or after any major life changes such as divorce or getting married.
•    If you want to make an alteration to your will, you have to do this through something called a codicil, and again this must be witnessed and signed.
•    If you need to make major changes to your will you need to make a new will outlining why you have revoked the previous will in order to cancel it along with your new wishes.

If you need our help writing or updating your will, get in touch with us via our website or call 01253 766866

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s