If you're over 18, you are legally entitled to make a last will and testament. Here are 10 reasons why it's a good idea to do so.
1. Are you in a long-term relationship but are not married? If so, your partner could end up penniless without a will in place.
2. Is there likely to be any disputes over your possessions in the event of your death? By not having a will, your family may be left waiting for your estate to be settled.
3. Do you like the idea of leaving some of your money to charity? Just because you do not have family, does not mean you should not make a will. You can still stipulate who benefits.
4. Do you want to avoid your estate going to the government? That's where your assets will end up without having a will.
5. Have you recently got married or had a new baby? If so, these changes could warrant a change to your existing will or the creation of a new one.
6. Have you bought new property? If so, then you need to make a will to ensure your family don't miss out on their share after you're gone.
7. Have you recently been divorced? Your ex-spouse may still get part of your assets, even if they are now living with someone else.
8. Do you want peace of mind from knowing your family won't have to pay expensive inheritance tax? A will can ensure your spouse or civil partner are considered as exempt beneficiaries.
9. Is your current will still enforceable? If you've got married since writing your will, it become null and void (the will, not the marriage).
10. Do you have children? If so, a will can help set up a trust fund for them in the event of your death and even stipulate who would raise them if you and your partner were to die.
To create your will, you are going to need a family solicitor. There are many friendly and experienced wills and probate solicitors that can help you sort everything out.
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