Why Should I have a Will?
Why Should I have a Will
Most people understand the need for a Will but for some reason tend to ‘put off’ to another day the making of a Will.
However a Will is a document that can give you control over what happens to your assets after you die rather than the law deciding. Suppose you are in a long term relationship, living with your unmarried partner and your children, and you have not made a Will because it is always something you have always put off until tomorrow. As you and your partner are not married, your partner would have no automatic right to receive your assets and they would in fact pass entirely to your children. Your partner may be able to make a claim under the family provision for dependants rule, but this is likely to result in Court proceedings which are costly, stressful and divisive at a time which is already emotionally difficult for the family.
Making a Will means you can:-
- decide who will inherit your Estate (the distribution of your Estate should always be undertaken with the family provision for dependants rules in mind)
- decide who is appointed Executor, being the person or persons who administer your Estate
- decide who will be appointed Trustee and administer any Trust Funds that may arise in your Estate (for example if you have children under 18)
- decide who will be guardian of your infant child(ren)
- decide whether any gifts should be made to charity, family or friends (these can be monetary or personal items)
- state whether you wish to be buried or cremated
The underlying message is that by having a Will you are not only controlling what you want to happen after your death you are also assisting your family in what can be a very traumatic time for them.
If you would like further information on making a Will please see the information sheet on our website. There is also a proforma available to assist you in making your decision as to what you wish to happen.