Making a Will is absolutely essential for anyone who wishes to leave their affairs in order.
Making a Will is one of the easiest ways to ensure the right people benefit from your estate and your wishes are carried out on your death. The last thing anyone will want to do is leave problems behind for their loved ones. Without a Will, even the simplest of situations can become complex. The administration of an estate in particular becomes much harder without a Will.
If you would like to have a say in what happens to your assets and possessions after you die, then you MUST have a Will.
The alternative to a will is that, all that you own (your estate) will be distributed according to the ancient intestacy laws, which can cause major upsets, family rifts and even legal battles. At the very least, it is likely to cause a delay of some months before your estate is settled and any money is paid out.
If you are unmarried but have a partner, a Will is vital. The intestacy laws do not recognise a ‘common law spouse’. Therefore an unmarried partner would need to go to court to attempt to have their interests taken into account when the estate is distributed.
Arranging a Will is usually straight- forward. There are some online solutions made available from reputable law firms that deal with simple situations at a low cost. If your circumstances are more complex, perhaps you might have an extended family or a business interest, it is important to consult a specialist.
You should consider giving your spouse or partner the legal right to take over the management of your finances if you become mentally or physically unable to cope with your affairs, using what is known as a Lasting Power of Attorney. Most people would think the peace of mind of knowing their affairs are all in order for loved ones far outweighs the cost.
You can also find a list of solicitors in your area that specialise in arranging Wills on the Law Society website here
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