Many people underestimate the importance of making a Will and often assume that when they die their possessions, money and property will automatically pass to their spouse or children. This is not necessarily the case.
Without a Will, the rules of intestacy apply. These rules not only set out who is responsible for sorting everything out when someone dies, including arranging the funeral, making sure all the money and property is collected, and any debts are paid, but they also set out who is entitled to receive any money and property left behind.
Who benefits from the estate when there isn’t a Will depends on the value of the estate, and the relatives that survive the deceased. If the deceased left a spouse and children, their spouse may not necessarily receive everything. The rules of intestacy can be very complicated.
People often neglect making a Will because they think they have nothing to leave; but by making a Will you appoint a person called an executor and they have the legal authority to arrange the funeral, collect in all the assets, deal with any debts and make sure the beneficiaries receive the gifts left to them in the Will.
A Will not only deals with money and property, but deals with everything the deceased had at the time of their death. This can include personal belongings too – such as pictures and paintings, a car, jewellery or ornaments, or items of great sentimental value. It can also include pets. So, while your belongings might not necessarily be valuable, if there is something in particular that you want to leave to someone after you’re gone, the best way to make sure that happens is to make a Will.
How we can help
Our highly experienced Will writers can carefully guide you through the process of making a Will, making sure that you avoid any pitfalls and can discuss complicated issues, such as tax planning, with you to help you make the most sensible decisions.
We can advise you fully about what to include in your Will, including protecting your property, and advise on any inheritance tax issues. We make sure that your Will is correctly drafted to give you peace of mind that your loved ones will be properly taken care of after you are gone.
If you would like more details about making a Will, or just want a confidential chat about your options, contact our friendly team today.