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What Exactly is the Reason for Getting a Will

Most people have heard about a last will and testimony, but not many know exactly what it’s all about. Around one half of the present UK adult population don’t possess a will and the one’s that do normally get one when they’re almost 65.

That’s a huge amount of uncovered persons! So, anyway, let’s see why getting a will made up is in your best interests.

Making a Will

  • Gives you the chance to leave lucid instructions about how you would like to see your estate distributed. Minus a will, it will be subject to rules of intestacy and possibly not go to who you wanted it to.
  • Heritage Wills let you choose your own executors. If you die without one, your closest relatives will have to apply for ‘letters of administration’.
  • A will lets you pick a guardian(s) to take care of any children if they are under 18, until they come of age. You can also create monetary arrangements to their advantage.
  • A will lets you make particular endowments to persons of your choice. These may differ from jewellery items to amounts of cash.
  • If you are remarried, a will ensures that children from your former marriage can obtain a share of your estate.

Not Making a Will

  • Unmarried common law partners, might not receive anything from your estate, unless you have made a will in their favour.
  • If your estate is divided according to the intestacy rules, your spouse or civil partner may not receive as much as you wished for them to.
  • Should you happen to die before making a will and are without a spouse or children, your parents or siblings can inherit your estate, even when you’d prefer they didn’t and it went elsewhere.
  • Having no will can at times lead to serious family disputes.
  • Minus any will, your family may face the possibility of a larger inheritance tax bill than necessary, due to a will helping out with the tax-planning procedure.

What Shall I Do?

Do some research and find out exactly what you need prior to making it.

  • Which service is ideal for your needs?
  • What to do if circumstances create any kind of change.

Ways of Getting a Will Drawn Up

  1. Solicitors

Many people use a solicitor, but don’t always expect that you’ll always get a specialist.

  • Make sure that you ask about their experience and also confirm that they belong to The Society of Trust and Estate Practitioners.
  1. Will Writer

If you prefer to use a professional will writer, check that they belong to the Institute of Professional Will Writers or the Society of Will Writers.

Will writes provide a free home visit option also, making everything that little bit more personal and professional.

  1. Banks

If you choose to make use of a bank to make your will, check first if its’ will-writing service is regulated and who is it who actually provides the service.

Do yourself a favour and get a will made up!

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