Why Will Writing Is Important
Will writing is also taking care of your loved ones. Most people believe that writing a will is only for people who have ‘a lot to leave’ or you may think that all your belongings will automatically go to your partner once you pass away, but this is not true.
Unfortunately, only one-third of people have completed a will and more than half of them are outdated. This usually generates more stress for the ones who will take care of your belongings and will also delay the legal process.
You can also make a Will for many other reasons, rather than just who gets your belongings. These may include funeral wishes, deciding the guardians of your children if they are under 18, or even choosing the executors of your will so the law doesn’t impose on someone you do not have chosen yourself.
Will Writing – What to Include
When will writing you can start by mentioning who you want to benefit from your will (for example, a partner, a friend, or your child). If you decide that more than one person s
hould be included in your will, then you will need to state who gets what percentage, and in what circumstances these beneficiaries will inherit your estate.
You can also protect your property, choose who will look after your kids in case both you and your partner die whilst they are under 18, and you can even include a charity in
your will. It is also possible to reduce the amount of tax payable on inheritance in some circumstances.
Most importantly, you need to make sure your will is legally binding. To ensure your will is valid, there are some points it should check such as being signed by two witnesses. You can keep your will at home or safely store it with your solicitors or with your bank.
When to Update It?
Is important to review your will every 5 years or if any major changes happen in your life. If you get divorced, get married, have a child, move house, or even if your beneficiary dies. These are all things that may have an impact on your will.
If any of these things happen – or if you would like to make any other major changes to your will – you can, and should, create a new will.
Who Should You Talk To?
It is generally advisable to use a solicitor to make sure your will has your desired outcome. This is especially the case if you share your house with someone else that is not your civil partner or if you have properties outside the UK, for example. A solicitor will also ensure that your wishes are carried out without delay or dispute.
We are happy to advise and answer any questions you may have, as our solicitors have extensive experience in the field. Please, don’t hesitate to contact us or to find out more about making a will.
Miles Astbury-Crimes: Telephone Number: 0121 686 9444 | Miles.astbury-crimes@e-p-o.co.uk
Sarah Owens: Telephone Number: 0121 686 9444 | Sarah.owens@e-p-o.co.uk
Main office number: 01216869444