5 reasons why writing a Will should be on your to-do list
No-one wants to think about death but writing a Will - a legal document which details your final wishes with regards to your property, money and possessions after you pass away, as well as your plans for who will care for your children - is not something you should put off until a rainy day.
We take a look at why writing a Will is so important and why you should take action today.
1. Dying without a Will can cause significant problems for those you leave behind
If you die without a Will, this is known as dying ‘intestate’. If this happens, the rules of intestacy kick in. These differ depending where in the world you live. In England and Wales, if you have no living family members, the Crown will get your assets.
If you do have living family members, the intestacy rules will decide who your property, money and possessions will go to.
This could leave some family members, who you would have wanted to inherit, but did not under the rules, in financial trouble. They may be able to go to court to challenge the provision made by the rules, but this can be a costly, time-consuming and stressful process.
2. Without a Will, your children may not be looked after or educated the way you’d like
If you die intestate, it will not be you but others who decide who will look after your children.
In a Will, you can nominate ‘Guardians’ who will take care of your children, should the worst happen. That way, you can rest safe in the knowledge that should you pass away before they reach adulthood, your children will be cared for by people you know and trust.
3. A Will puts you in control of who inherits your estate
In your Will, you can detail everything from who will inherit your home, to who you would like to look after your pets after your death.
4. You can choose who will handle your financial affairs
You nominate people who you would like to administer your Will when you pass away, known as ‘Executors’.
If there is no Will when you die, it is the law which will decide who can manage your financial affairs and there may be problems if this person is not suitable for reasons such as their location or their age.
5. A Will can help to ease the pressure on your family
Our funeral wishes are something that we rarely discuss with family members. In your Will, you can detail the type of funeral you would like to have.
Having this written down will provide bereaved family members with a guide they can follow. so they know that they are giving you the funeral you wanted.
Write your Will with a LegalPath DIY Will kit
Wit’s our Last Will & Testament DIY Kit, writing your Will has never been simpler, quicker or more affordable.
Always check that this kit is suitable for your specific needs before purchase.