Many of us don’t want to think about what will happen to our property and personal possessions after we’re no longer here, but I explain here why it’s so important to make a Will…
What happens if I don’t have a Will?
Without a valid Will, the rules set down by the state, known as the rules of intestacy, determine how your assets will be dealt with – regardless of any wishes you may have had. There might be members of your family, close friends or charities you’d have liked to benefit, who won’t under these rules. And you might have funeral wishes that would otherwise go unknown.
What can I decide with a Will?
A Will allows you to decide all sorts of things – who will benefit, by how much, and most importantly, who will be your Executors. While who benefits from your Estate and by how much is important, there are many things in a Will that aren’t legally binding, such as funeral wishes. So it’s crucial to select the right people as your executors, who will do their utmost to carry out your wishes.
Other benefits of making a Will
Having a Will in place lets you to provide for the loved ones you leave behind, safe in the knowledge their worries will be minimised. Your Executors will know who they are and they’ll know what your wishes are, so they’ll be able to distribute your Estate accordingly. Finally, it makes it easier for those you leave behind.
If you’d like further information about making a Will or would like to arrange an appointment to see me or one of our Solicitors, please contact us on 01604 828 282, in Northampton or drop me an email.
[Disclaimer: the information shared in this post is not intended to be legal advice, but merely conveys general information related to legal issues commonly encountered. Always seek professional independent legal advice. This blog post first appeared on our business blog here.]