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Why is making a will important?

September 15 2017

Making a will is very important, and should not be one of those things you keep putting off. A will is not just for people who are about to die, and most people should have one.

Wills are there to successfully distribute your property and assets and having a will ensures that you, rather than the government, are in control of where your assets go. If you were to die without a will, the government will decide in what ratio your family members will inherit the estate. This could mean that your prized car goes to a daughter who has no need for it, or a family member whom you did not want to get a large share, gets an equal share to your wife or kids.

Having a will means you can, at your own discretion, make sure those who you want to leave your assets to will be able to get what you want them to have. Many may want to leave specific items to individuals, such as cars, watches or maybe a family heirloom, which the government would often overlook.

Furthermore, a will also does the following:

· Names the executor to wrap up your estate

· Names guardians for your children and their property

· Creates trusts for your children

Having a will is also a great way to avoid family conflict in the event of a sudden death. A will, that family members have seen should mean that there is no comeback, as the legal document will have been signed and witnessed.

If you are thinking about making a new will, or updating a current one, for example to reflect a new marriage or changes in your family circumstances, please do not hesitate to contact one of our wills team who can help create a tailored one for you.

 


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