Five more good reasons to make a Will…
Post by Admin , Feb 18, 2020.
1. Underage Children
Leaving a Will provides some certainty over who will be responsible for your children in the event of your death. Who will they live with? How will they be provided for until they reach adulthood?
If you are leaving a considerable sum of money to a minor, you can also restrict their access to it until they are of a suitable age.
2. Religious Beliefs
If you have any particular instructions about where and how you want to be buried/cremated, you can include these in your Will.
This is important especially if your beliefs differ to those of your loved ones and can help to avoid disputes between family members after your death.
3. The Personal Touch
You do not have to be wealthy to leave a Will.
Wills can be used to leave specific gifts to different people, for example, family heirlooms, sentimental pieces of jewellery, household ornaments and even personal letters.
4. Having Your Say
Even if you are happy for your property and money to pass on as if you had died intestate, (without a Will) you should be aware that any one that believes they should have been better provided for can make a claim from your estate under the Inheritance (Provision for Family and Dependents) Act 1975. Case law in recent years has seen a considerable shift in favour of these claims.
At least if you leave a Will, everyone will know what you intended. Without one, you have no say and it will be up to the Courts to decide in the event of a claim.
5. Step or Extended Families
If you live with family members who are not related to each other by blood (e.g. children from a previous relationship and a new partner) or with other extended family members (grandparents, aunts/uncles, cousins etc.) you may be concerned about their living arrangements after your death.
You can leave instructions in a Will about property you own so that it is clear who may be allowed to continue to live in it and for how long before it is passed on to any beneficiaries.
If you require legal advice and assistance in relation to any Will related matters or would like to draft a Will, you can get in touch with our specialist Wills solicitors, based in Baker Street, by telephone on 0207 486 5131 or make an online enquiry here.
This blog was prepared by Nicola Samuda on 11 February 2020. It is not intended to be advice and should not be relied upon as such. To contact Nicola, call 0207 486 5131 or click here to email her.