Do You Need A Will?
The answer is yes if you care about who will inherit your assets and who will have authority to deal with your estate when you die.
Most of us do not like to consider what may happen after we have died. However, you can relieve uncertainty for your loved ones by making sure you have left a valid and up-to-date Will which reflects your wishes.
If you die without having a Will, Government rules will determine who will inherit your assets and who will have authority to deal with your estate.
There are many other reasons why you should consider making or updating your Will, some examples of which are as follows:
- If you are married your spouse* may not inherit all of your estate.
- If you and your partner are not married, your partner will not inherit from your estate.
- If you have children, you should appoint guardians to care for your children on your death and trustees to look after their inheritance.
- To protect your assets from care home fees.
- If you are separated but not yet divorced, your spouse will inherit at least part of your estate which may not be as you would intend.
- If you have children from a previous marriage or relationship, you may wish to ensure that they will ultimately inherit from your estate.
- If your Will is over five years old or if your circumstances have changed, such as getting married, cohabiting, having children, divorcing, a change in your assets.
* Any reference to spouse or marriage includes civil partners and civil partnerships.