Failure to leave a will can cause all sorts of problems for those you leave behind. It ensures that your wishes will be carried out and avoid any doubt about who gets what. It s all too easy to think about writing a will and in fact give it a lot of thought for a while, but not making up your mind about the odds and ends make put it to the back of your mind when something else crops up.
If you are a parent of a child under 18 it s particularly important to leave clear instructions of how they should be provided for in the event of your death. It s even more important if you re a single parent. A carefully written Will nominating a legal guardian or guardians is essential. If you don t leave a will, then people can only guess at what you d have wished and it ll be left for the Court to provide what the future of your child or children is to be and this could be very different from what you d have intended for them.
It s not just your home and money that matter. Although you need to specify where you d like the bulk of your estate to go, sometimes it s the little things that matter. You might like to give personal possessions to various friends. The monetary value may not be great but a keepsake given to a special friend could mean so much to them. Whilst you may have always intended to make the gift, only by leaving a will can you be sure they ll receive it.
Lots of people have holiday homes abroad and are maybe not aware that Inheritance laws vary from country to country. It could be a difficult situation should you die and it’s wise to make sure you have a will in each country in which you have such assets to be able to ensure that the asset is dealt with in line with the local law. If you die without leaving a will, intestacy laws exist and the Law decides how your estate, that is your possessions and money, should be divided. It s true you re next of kin will basically receive a part of your estate, but it s not as cut and dried as all that.
If your estate is under a certain value, your spouse or legal partner will inherit it in full. Over this amount, if you have children they could have a right to part of the estate. If you re childless then other relatives may be entitled to a share. Your partner could end up living in less comfort than you d choose whilst distant relatives could inherit a part of your estate.
Even if you are a single person, and have no immediate family, it is important to leave a will. The risk is that, by not leaving a will, your estate could pass to the Government and you will have no choice in the matter.
There are all sorts of other aspects when it comes to will making. There s inheritance tax, for example and probably all sorts of points that you ve not had to think about. Although it s possible to write out your own will, it s an important legal document and should be done with great care and a good knowledge of the terminology and guidelines. There are professional firms that will help with this, for very moderate fees. You can find them via the internet and be assured they ll be totally up to date on everything. Don t put it off any longer. By making a will you re sure of your wishes being carried out with a minimum of fuss and delay. Isn t this how you d like to leave things?
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