We’re all in agreement that the writing of a will is important. But so many people never actually get round to doing it. In fact, it’s estimated that one in three people don’t manage to write a will before they die.
We’ve put together seven reasons you should get to writing one before its too late.
Passing on money and property – It doesn’t matter if you’ve told someone that they’ll receive your money and property after your death, it won’t happen unless it’s put down in a valid will.
Assets don’t automatically pass on to partners – Many believe that once they pass, their assets will automatically move on to their spouse or partner. If you’re unmarried, your partner has no automatic right to the deceased person’s property. A will should clear that up.
Avoid intestacy rules – If you pass without a will (also known as intestate) then your assets go through extremely complex intestacy rules. And these rules don’t guarantee that your property and money moves to the person you’d have liked. Intestacy is also time consuming, so it could take relatives months or even years to get hold of what is theirs.
Avoid arguments when you’re gone – Arguments often occur between friends and family members about who has the rights to your assets. A will is designed to clarify who you would like the assets to go to, and leaves no relative or friend in the dark.
Children under 18 – If you have children under the age of 18 then you can specify a guardian in the will. This person will take care of the child until they reach 18 years old.
Peace of mind – When you’ve written your will you can rest safe in the knowledge that if something does happen to you, everything you own is going to the right place and the right people. There’s no uncertainty.
Charity – Gifts to charity through your will are tax free, so if you have a charity that’s close to your heart, you can leave them some of your estate.
So there are seven of the most important reasons to writ your will today, but there are many more. If you’d like assistance with will writing or anything related to your will, we can help. Get in touch today to find out more.