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James Rousell - Partner

Only by making a Will can you be absolutely certain that your affairs will be dealt with as you would wish. That is especially important if you have property or other valuable assets, and even more so if you have dependent children. Most people think that everything will automatically go to their partner or next of kin, but it is not often that simple but that will not always happen especially if you have children or are not married. It`s a worring fact that only 1 in 3 of us have made a valid Will. 

Here are just a few of the key reasons why you should make a Will :

FOR UNMARRIED COUPLES 

If you want your partner to inherit your property the only way is to make a Will. If you are not married or in a Civil Partnership and do not have a Will, then your estate will pass according to the intestacy rules which set out which relatives will inherit your estate.  Similarly, if you are separated but not divorced your spouse will still benefit unless you remake your Will. 

A GUARDIAN FOR YOUR CHILDREN 

If you have children under the age of 18, you can name a legal guardian(s) for them in your Will.  Unless you name a guardian in your Will, the position will be open to doubt and Social Services could decide.

YOU CHOOSE WHO INHERITS YOUR ESTATE 

Without a Will, your estate may end up passing to the wrong person(s). Only by making a Will, can you ensure that your estate passes to your chosen beneficiaries in the event of your death. With a valid Will, you can also make provision for the circumstaces where your named beneficiairies may have predeceased or perhaps where there are beneficiaires under the age of 18. Importantly, by making a Will you can chose the person or persons who you would like to be the Executors - that is the person(s) who you would like to deal with and administer your estate. If you do not have a Will, then the wrong person may end up dealing with your affairs after your death.

WHY LEAVE IT TO THE TAXMAN (OR LOCAL AUTHORITY)

Most people underestimate the value of their assets. If you own a property or have life insurance and savings, what you leave behind could mean an Inheritance Tax liability (death duties) for you or your partner. A Will can help to minimise the tax burden for your beneficiaries. By making a Will, you can also minimise the amount that your surviving spouse or partner will pay should they need nursing or residential care in the future - leaving more for your chosen beneficiaires.

YOUR FUNERAL WISHES 

Without a Will there is often confusion as to exactly what arrangements someone wants at their funeral. It is a simple matter to specify it in your Will and then forget it. And when the time comes, your relations will not have the added concern of worrying about what you would have wanted. 

A Will is a very important document that should be drawn up and prepared correctly. As set out above, failing to make a Will can lead to serious problems.

If you would like any further advice on the above, please contact James Rousell on 01384 371622 or email j.rousell@wjclaw.co.uk