Making A Will - 5 Reasons to do so.

Providing for your family is more than just putting food on the table and a house to live in.

Life insurance for example is providing for your family.

As is putting a Will in place.

Here are 5 reasons to consider when procrastinating over the task of doing it...

1. Protects your children.

A legal Will ensures that should anything happen to both you and your spouse at the same time you can dictate who will care for your children. As well as take care of their finances. Without a Will, they could end up in the hands of social services. 

2. Saves your loved ones the hassle.

Not only hassle, but time and money. Having a legal Will in place ensures your debts are paid accordingly, and any inheritances are paid. Without your Will in place, this will take much longer than you’d think, and no doubt stress the ones you leave behind.

3. You can nominate your Executor.

By making a Will you will be able to nominate who you wish to be your executor. This is a person you know and trust to take care of your estate. This way it will be handled to your liking, and in a manner fit to your wishes.

4. Saves disputes and stress

Without a Will intestacy rules apply, which leaves your family out of the process, making them feel estranged and stressed. By having a Will you can nominate who inherits what, and save the family unnecessary disputes.

 5. You decide who inherits what.

This sounds silly, but plenty of stress can come from this one. Make it easy for your loved ones and decide for them. As stated, without a Will the intestacy rules apply and your affairs will be handled by the law. They will then decide on matters that may be against your wishes. Protect your estate and put a Will in place.

A Will can be done yourself, but I would highly recommend a solicitor do it for you. Especially in the scenario of a family with children.

They will be able to provide advice on the best way to protect your estate and interests in line with the law.

Also please remember, should your situation change, you may need to update your Will. Speak with your solicitor if you are ever in doubt.

 

Protect yourself, get a Will.

Posted in: Financial planning

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