Most people do not want to think about making a will. This can be due to a number of factors. However, for most people it is because they can be superstitious or simply do not want to think about their death and what will happen thereafter. These are completely understandable and if you are putting off making a will because you simply do not want to think about the issues surrounding it then you are not alone.
The good news is that making a will is a relatively straight forward process and your solicitor will be there to assist you with any worries or queries that you have. The main disadvantage of not making a will is that your assets may not go to the person or persons whom you want. If you do not make a will then you will be deemed to have died intestate. The consequence of this is that rather than your estate going to the person you want it to go to, it will instead go to your next of kin. The other issue is that a family member will need to be appointed as the administrator of your estate, again this may not be the person that you would have wanted.
If you make a will then you can be assured that all of your assets will go to whomever you want. You can set out in your will whom you want your assets to go to and how you want your estate dealt with after your death. The advantages of a will are that you can also make sure that this is done in the most tax efficient way for the beneficiaries. You can also appoint someone whom you trust to make sure that your estate is administered in accordance with your will and your wishes. This person is known as the executor and they will engage with your solicitor after your death to make sure that your estate is administered as you wished. A valid will becomes all the more important in circumstances where you have a minor child. A valid will permits you to direct whom you would like to be a guardian for your minor child or children in the event that you passed away before they reached adulthood. In addition to these main issues, you can also stipulate in your will how you want your funeral to be carried out and if you wish to be buried or cremated.
If you would like to attend with us to discuss making a new will or indeed updating an old one please do not hesitate to contact us on 043-3346440 or at firstname.lastname@example.org