Why should I make a Will?
Typical reasons to make a Will
If you make a Will, it takes a lot of the pressure off your loved ones during a difficult time. The main reason for this is that a well written Will explains what you want to happen after your death. This could be in relation to who looks after your children, what your funeral wishes are, who you would like to inherit your chattels and assets, who you would want to put in charge of dealing with it all, and much more.
Other more specialist reasons to a make a Will
A Will can explain why you have excluded people from your Will who might be expecting to inherit something. The consequence of this is that your Will is less likely to be successfully challenged.
It can include trust provisions in case a potential beneficiary is vulnerable, is having financial difficulties, is going through a divorce, becomes disabled or is disabled, and more. This can prevent your hard earned money and assets falling into the wrong hands or being wasted at the expense of other family members.
A Will can help ensure the right people inherit
Mirror Wills can lead to beneficiaries being disinherited between the first and second death. Will Trusts can protect assets and property and can ensure that beneficiaries get the inheritance you expected. Without this security, your final beneficiaries could lose their inheritance for many reasons unnecessarily.
The right clauses in your Will can make a huge difference
A Will can make it easier for people to administer your estate. It is more likely your assets will be distributed as you intended if the Will is written by an experienced professional. Given the benefits a Will can provide, especially one written by a professional Will writing company, it usually represents excellent value for money, even if the cost is higher compared to doing it yourself or via on online order-taking website.
What happens if I don't make a Will?
Who will inherit your estate will be determined by the Law. The laws of intestacy determine who will inherit your assets, and this may not be who you wanted. Unmarried partners and step children will automatically be excluded, a spouse or children might not inherit as expected. Expensive trusts might need to be put in place because of the complex rules governing dying without a Will.
If you die interstate (without a Will), and you have surviving children under the age of 18, with no surviving parent, or in some cases if their father never married you then the child or children become wards of the court, and the court will decide who is best suited to bring the child or children up. You might not agree with the decision, and this could have huge consequences on the lives of any children, both in the short term, and across their lifetime.
Administration of your estate
Without a Will, someone will need to apply for letters of administration so they can administer your estate. Usually the next of kin will be appointed. An unmarried partner cannot apply but a seperated spouse can.
If your loved ones do not know what your funeral wishes are then they will just need to guess and hope for the best. Funeral costs are normally met from the estate should their be sufficient assets to pay this, but if not, then family are likely to end up footing the bill. A prepaid funeral plan can help in this instance, and can be put in place from under £20 per month depending on your age.
Goodwills Wilts and Glos price check
Goodwills Wilts and Glos single Will from £125 which is 16% cheaper than a Co-operative Legal Services Single Will from £150*
Goodwills Wilts and Glos Mirror Will from £200 which is 14% cheaper than Co-operative Legal Services Mirror Wills from £234*
* Prices correct as of 12th March 2019. All prices include VAT as applicable. Further information about what is included in our standard prices can be found by clicking here.