There comes a time when everyone has to consider whether it’s time to make a Will.
You may have just had a child and wish to appoint a legal guardian in your Will, or, you may wish to benefit a friend or charity that has provided you with unwavering support. No matter the reason, there are countless benefits to having a Will stipulating your wishes on the distribution of your Estate.
Without a Will, your Estate will be distributed in accordance with the intestacy rules. These are a set of rules which deal with the way in which your estate will be distributed in accordance with the law, distributing it amongst your spouse, children, and other biological family members in a certain order.
There are some important factors that need to be noted if you do not have a Will, or if you are planning to rely upon the intestacy rules to distribute your Estate:
1. Your surviving spouse may not inherit the entirety of your Estate.
2. No provision is made for step-children.
3. No provision is made for co-habiting and unmarried couples.
4. Individuals who you would have otherwise wanted to exclude may benefit.
5. Should you have no living biological family members then the Estate is forfeited to the Crown.
6. The rules fail to deal with inheritance tax issues.
7. No provision is made for appointing legal guardians for any young children you may have.
By having a Will drafted by a specialist, you can rest assured knowing that your Estate will be distributed in accordance with your wishes. A Will provides a clear indication of your thoughts and feelings and can help safeguard your Estate against claims. It can also ensure that those closest to you, whether they be related to you or not, are the ones to benefit from your Estate.
We here at Passmores Solicitors have a number of legal experts waiting to draft a tailor made Will for you. We offer competitive prices and work with a number of charities who offer free Will writing services to certain qualifying individuals.
For more information, please do not hesitate to contact us on 01446 710 000 or email firstname.lastname@example.org.