As we approach the festive season, thoughts naturally turn to loved ones who have passed away. Whilst it is always a difficult time when a loved one passes away making a will can at least mean that, by sorting out your financial affairs, life is a little easier for those who you have left behind.
Five good reasons why you should make a will
- Do you have a specific request regarding your funeral? Perhaps you want to be buried in a particular place or in a joint burial plot. Maybe you wish to have your ashes spread in a place which has fond memories for you. Indeed, just the confirmation of whether you wish to be buried or cremated – all these matters can be dealt with in your will.
- Means, subject to those persons entitled to make a claim alleging unreasonable financial provision, your estate goes to those who you want to have it, whether that be friends or family or a combination of the two. If you do not have a will your estate will pass to those entitled under the rules of intestacy which could include a member of your family with whom you are estranged and would prefer not to inherit. In circumstances where there are no living relatives, your estate could even pass to the Crown.
- Do you have items of jewellery or other personal possessions which may not be of particular value in monetary terms but do have sentimental value? If so, a will can set out your wishes as to who should inherit these items.
- What if you have minor children? A will allows you to appoint guardians for your children to ensure their well-being after you have died. A will would also allow you to set up trust arrangements for any minor children ensuring that both financial security and care arrangements are in place.
- A will providing for your assets to be held in trust can also mean substantial tax savings can be made ensuring that as much of your estate as possible is available for distribution to your loved ones.
Don't delay making a will
Making a will is often something that people put off doing. This festive season gives your loved ones some peace of mind, call our experts for a no-obligation consultation on 0118 959 7711.
Consistent with our policy when giving comment and advice on a non-specific basis, we cannot assume legal responsibility for the accuracy of any particular statement. In the case of specific problems we recommend that professional advice be sought.