Wills & Probate | Seven Good Reasons to Make A Will Now
Article provided by Penn Chambers:
Making a Will is not normally high on a list of most people's priorities, nor is it a particularly engaging activity, but there are a number of really important reasons why you should make a Will, and do it soon.
- 1. Your wishes will be fulfilled - whatever you decide should happen after your death, both to your estate but also regarding your funeral, can be stipulated in your Will. Therefore, if for example you want a portion of your estate to be given to a favourite charity or favourite aunt, this can be made a certainty by using a Will.
- 2. Intestacy laws will not apply - intestacy means that someone has passed away without leaving a Will. The laws of intestacy, can be very strict and unfair - and depending on the size of your estate, there may be a limit as to how much your spouse will be given. In the event of you dying with no blood relatives, your estate will be given over in total to the Crown. By making a Will, this problem can be avoided entirely.
- 3. Your children will be cared for - if you have children, you will be able to stipulate who you wish to be their legal guardian. You will also be able to make financial provisions for them, for example, to remain in the family home until they reach adulthood. Without a Will, they could be taken into care until a decision over who will look after them can be made by the court, and even then, they could be placed with someone you would not have chosen.
- 4. Protect your partner if you are not married - common-law partners have no legal rights at all so if you and your partner have never married and you die leaving no Will, there is the very real possibility that your partner will be in financial difficulty. Your Will should be used to protect your partner from such an event.
- 5. Inheritance Tax Issues - any estate worth over £325,000 is subject to inheritance tax and a Will can help you plan more tax efficiently, as many properties are worth more than this alone. For more, read The Nil Rate Band and The 7 Year Rule article HERE.
- 6. Divorced but not remarried - many people do not realise that if you are divorced and not remarried and you leave no Will, your ex-spouse may inherit some or all of your estate. This issue needs to be looked at in conjunction with the advice of a Family Solicitor and we have them in our practice to do just that - free of charge, as part of our service to you.
- 7. To help out your family - when you die intestate the whole process of probate takes much longer and is much more complicated. This will leave your loved ones with a complicated legal position and possibly in financial difficulties until a Grant of Probate is obtained. This has to surely be one of the best reasons to make your Will.
If you were already thinking of creating a Will, please consider reading Should You Use Online Will Writing Service? next.
The information provided in this article is not intended to constitute legal advice and you should take full and comprehensive legal advice on your individual circumstances by a fully qualified Solicitor before you embark on any course of action.
ABOUT THE AUTHOR:
If you are looking for any Estate Planning advice including Wills, Probate, Tax, or Power of Attorney matters contact:
13 Austin Friars
London
Greater London
EC2N 2HE
comms@penngroup.co.uk
www.pennchambers.co.uk
This article "Wills & Probate | Seven Good Reasons to Make A Will Now" is rated
Rate it:
Other Guest Posts:
» Wills & Probate Duties of an Executor -
Once that has been identified ...
» Before Making a Housing Disrepair Claim - Send copies of everything to your landlord ...
» What Repairs Is My Landlord Liable For - This ensures repairs are carried out properly and that you receive the maximum amount of compensation possible ...
» Top Tips When Dealing with a Rogue Landlord - If you stay calm ...
» Peculiarities of legal job opportunities - The test consists of different segments of lots of questions as well as an aggregate score composing test ...
» Why Is It Important to Hire a Content Writer - On the one hand ...
» Can Quality Copywriting Affect Your Business Strategy -
And the second thing is to understand the needs of your target group and to create the text that will help your business to build a relationship with your customers ...
» Dubai's Business Environment - It is also important to provide a safe and healthy working environment and to offer competitive salaries and benefits to attract and retain top talent ...
» Advice on Spanish Wills -
A beneficiary of a Spanish asset or share thereof ...
» Buy Law Firm Review Services - There are plenty of firms selling reviews ...
» Starting a Successful Business in College -
Be Adaptable and Stay Open to Change /b
There is no denying that being an entrepreneur may be unexpected and fraught with difficulties ...
» Why Is It Important to Hire a Content Writer - Working with a content writer may increase conversion rates and boost income while effectively conveying product value ...
» Guide to Effective Communication - Whether writing a formal ...
» Pointon & Co Solicitors - We've written hundreds of review articles over the past 20 years and if you've already read some on ...
» www.london-law.co.uk - Alexander JLO Solicitors is obviously a very popular firm /b amongst a huge population with plen ...
» Redwood Collections Ltd - Redwood Collections is a debt collection firm based in Croydon. On the 1to1Legal search function we ...
» Lawcomm Solicitors - Usually when we write an article on a firm that handles conveyancing, people are often confused to s ...
» www.hampsonhughes.com - One of the founders of our own 1to1Legal Firm (Mike Beverley) actually started off as an accident in ...
 drivingdefences.co.uk |
 kctrust.co.uk |
 leech.co.uk |
 blackstone-legal.com |
 bbd-llp.co.uk |
 thaminasolicitors.com |
 kuddussolicitors.co.uk |
 rosscoates.co.uk |
| -- Add your Firm -- | |
Executive Recoveries and Enforcement are based in Essex but able to offer services nationally across England & Wales. They cover a wide range of enforcement services including Tracing, Process Serving, Debt Collection, Evictions, Locksmiths, and Specialist Clearance Services.
All of their Agents have been trained, certified, and are backed up by a wealth of resources and support. They promise quick response times, providing an efficient and cost-effective service.
Visit their website, or call 0800 999 1028.
» www.execenforce.com »
Insurers, not compensation culture, to blame for premium rises - www.bbc.co.uk
Compensation for wifes death cut after claimants uncovered affair - www.telegraph.co.uk
Paralegal Career Is great Pick For Baby Boomer Profession Transitioners: The Career Services Office of his school had no resources and an extremely little on- campus interviewing program. You will get this contact name .along with all the address details and application procedure) from their s ...
Find Local Attorneys, Law Firms, Information And Legal Services: In practice. the bigger commercial businesses in London as well as another important legal centres like Leeds. Birmingham. Manchester and Bristol will pay considerably more than this; at a leading London company you could expect t ...
In the US?
- Solicitors in Scotland
- Solicitors in England
- Solicitors in Greater London
- Solicitors in Wales
- Solicitors in Northern Ireland
Custom Search
This website uses cookies to personalise content/adverts, integrate social media functions, analyse our traffic, track votes, etc. Please check with third party application providers such as Facebook, Twitter, and Google for how they use your data. By using this website you consent to our use of cookies.