It’s always difficult to think about death, especially your own. But unfortunately, it’s one of the only things in life (as well as taxes) that’s guaranteed. It’s your will that tells your loved ones what should happen with your money, possessions and property when you die. If you haven’t left a will, it’s up to the law to decide what happens with your possessions. And this may not align with your wishes.
Four Reasons Why You Need a Will
Here are just four of the many reasons you should think about writing a will.
- There’ll be less burden on your family and friends to sort everything out when you die, as you’ll already have made those decisions. Without a will, the process is going to be a lot more stressful and time consuming for them.
- If you don’t have a will, then the law will decide how everything you own will be distributed. This process may result in a different outcome than you would like.
- If you want to reduce the amount of inheritance tax that may be payable based on the value of the property and money you leave behind, then a will can do that for you.
- It’s especially important to write a will if you have children or other family who are dependent on you financially. Likewise, if you wish to leave something for someone outside of your immediate family, such as an unmarried partner, you need to write a will.
Need Help Writing Your Will?
It’s very important to write your will correctly otherwise you risk it being invalid, which means you’ll lose the benefits of writing one. Mark Reynolds Solicitors offers advice on will writing and will guide you through the process to ensure that your will is written exactly how you want and is legally binding.