Many of us put off writing a Will because it seems morbid and it is not something we want to think about, but it is actually very important not to put it off to a later date to protect and secure the future for your loved ones.
Here are 5 reasons why making a Will is important:-
- Your decisions – if you make a will you will keep control of your financial affairs after you die. You will have decided on who will be your Executor to carry out your last wishes and who will inherit from your estate. You can make special bequests to pass on family heirlooms or special items such as pieces of jewellery to family and friends and make donations to your chosen charities.
- Protect your family – in a Will you can make provision for your young children (under 18) by appointing a guardian that you trust to love and care for your children.
If you have divorced and remarried a Will ensures that your children from your first marriage can also receive a share of your estate
If you are unmarried but have a civil partner, a Will can make provision for them to receive a share of your estate
A Will also enables you to provide a Trust to protect more vulnerable beneficiaries in the future.
- Reduce stress – A Will makes it easier for your family and friends to sort out your financial affairs after you die which will help to reduce stress at a very difficult time. Losing someone is incredibly hard, and the last thing any of us want is to be dealing with lawyers and bureaucracy at such a time of sadness.
- Reduce the risk of family disputes -A Will is legally binding and so there is little opportunity for quarrelling and confusion among family members about the inheritance of your estate.
- Reduce inheritance tax – careful estate planning can help to avoid paying more inheritance tax than might be due if you die without a Will.
There is no better time than now to write a Will and put all your affairs in order. Once it is done you can forget about it knowing that your wishes will be carried out when the time comes.
When making a Will you may wish to consider using Peter Robinson & Co. to ensure you provide for your family and loved ones. Our Wills and Probate Team will help you plan for your future and that of your dependants.
For further information and advice please contact Peter Robinson & Co. on 0161 678 7996