If you care about what happens to your property and who benefits after your death, then you should make a will. Without one, the Government decides who inherits what and your friends, favourite charities and relatives may get nothing.
It is particularly important to make a will if you are not married or are not in a registered civil partnership because the law does not automatically recognise partners who live together as having the same rights as husbands, wives and civil partners. As a result, even if you've lived together for many years, your partner could be left with nothing if you have not made a will.
A will is also vital if you have children or dependants who may not be able to care for themselves. Without a will there could be uncertainty about who will look after or provide for them if you die.
You should also consider taking legal advice about making a will if:
- several people could make a claim on your estate when you die because they depend on you financiall;
- you want to include a trust in your will (perhaps to provide for young children or a disabled person or to save tax or simply protect your assets in some way after you die;
- you have a holiday property overseas; or if
- you own all or part of a business.
Once you have had a will drawn up, some changes to your circumstances - for example, marriage, civil partnership, separation, divorce or if your civil partnership is dissolved (legally ended) - can make all or part of that will invalid or inadequate.
It is important to review your will regularly, to take into account any major life changes.
We would be delighted to prepare your will or advise you about whether you need to update your will.
Disclaimer: The contents of this article are for the purposes of general awareness only. They do not purport to constitute legal or professional advice. The law may have changed since this article was published. Readers should not act on the basis of the information included and should take appropriate professional advice upon their own particular circumstances. |