Reasons for making a Will
Many people are put off making a Will, because they feel they are not at 'that' stage in their lives yet. However no matter what age you are or what your personal circumstances may be - making a Will really is a vital part of planning for the future of your loved ones. It is also the only real way of guaranteeing your wishes are respected after your death.
If you have young children, it is essential that you make a Will to appoint guardians to take over parental responsibility in the event that your children are left without a parent. Without an appointed guardian, the courts may have to decide who looks after your children, with results against your wishes. If you already have a Will, it is important to ensure that your Will covers any children you may have had since making your Will. For more information on Guardianship, please click here.
If you do not make a valid Will the court decides what happens to your estate and this is known as the rules of intestacy:
If you haven't made a Will:
- your spouse/civil partner may only receive a small part of your estate
- co-habiting partners, non-blood relatives and friends will not automatically receive any part of your estate
- children from a previous relationship may miss out on a share of your estate
- children or grandchildren may receive a share of your estate against your wishes
- your family heirlooms may pass outside of the family
- your entire estate may pass to government funds
Further reasons to make a Will:
- you do not get to choose who administers your estate
- the courts will decide who looks after children under the age of eighteen - this may include relatives who you would not wish to raise your children
- it will be too late to state any funeral wishes
If you have already made a Will, don't forget you should check that it still reflects your wishes and
the value of your estate. Circumstances also change; the birth of children or grandchildren, marriage
or indeed divorce can result in the need for amendments to be made.
