Many people live their lives without thinking too much about what will happen when they die, but as we all get responsibilities – children, houses, jobs etc it is important that you are able to decide on what happens to your assets after you are gone.
Many of us assume that if we don’t make a Will, the laws of the land (relating to intestacy) will decide on what happens to our assets and make sure that our loved ones are looked after.
But an important fact to remember is that if you don’t have a Will, and the worst happens, there is no certainty that your assets will be passed to the members of your family or friends who survive you in a way that you want this to happen.
It is of vital importance that following any major change in your life, be it
- having a baby or more children, or in any case where you have children under 18
- becoming a grandparent,
- going through a divorce or family break up,
- buying/selling a house,
- going into or leaving a business
- a health scare which makes you think about the eventualities of life,
- a desire to leave money to Charity
You need to protect your family by making a Will.
Making a Will gives you control over the distribution of your assets. By providing a formal document, you can take back control over who gets what and ensure that the passing of your assets (Probate) takes place as smoothly as possible and the right people (the beneficiaries of your estate) receive the things you want them to.
If you have children under 18, a Will provides in accordance with your wishes for guardianship and their care. If you have children from a previous marriage, you will want to determine how your assets are passed on.