A Will brings peace of mind to loved ones, reduces unnecessary heartache to family and friends, ensures that your assets go where you want them to and protects your estate from predators.
What happens if I die without a Will?
If you pass away without making a valid Will you die ‘intestate’. With this you bypass your legal right to appoint whomever you want to distribute and benefit from your personal assets. If no Will is made, then you risk your estate passing to someone you have no intention of leaving this to.
By allowing your estate to pass through the intestacy you also delay its distribution, as there will be no rush to ensure the rightful beneficiaries receive your estate. If there is an inheritance tax liability, then your estate will be held up until whomever is to receive the estate foots the bill.
I am single, do I need a will?
If you are single a Will is still necessary to ensure your estate passes to whom you want it too. A Will gives you control of who you would like to gift your assets to. If no Will is made your estate will pass through the government chosen channels and could end up with a family member who you did not choose.
I own a property, should I have a Will?
The biggest asset in the majority of people’s estates is their property, as well as this it is also their most vulnerable.
Property can be included within your estate to just pass to your spouse or children, this means that you are in control where your property ends up. If no Will is made and no one is gifted the property then it could end up with someone who you do not wish to benefit.
There are ways to protect your family further and ensure completely that your beneficiaries receive your property and are able to continue living in it.