Whether you are married, in a civil partnership, engaged, or have a long-term partner, own property or have children; you should make one out.
When you die, if you don’t have a will, you will have no say about what happens to your assets (money); with those you care about losing out.
Ensuring you have a will in place not only provides peace of mind and relief for yourself, but also security for your family in the future.
This is a common myth (and also not true). The law will set out how your assets are to be divided if you die without a Will. The law is designed to be ‘fair’, but fair doesn’t always suit people; or would it be the persons wish.
For example, if you have been with your partner for many years, but you’re not married nor in a civil partnership, they will not benefit. Alternatively, let’s say your spouse or partner and children outlive you. Your assets will then be divided into portions which you may have not wanted, or that suit (as we mentioned before) your family.
In theory, you can write down your wishes and requests on a piece of paper. Providing you sign it properly and it was witnessed by two (adult) independent people at the time, it should be legally binding. That said, language and wording is crucial in wills; and to the understanding
Using the wrong wording could invalidate your will and lead to your instructions not being followed.
If you have stepchildren or a wider family unit to consider, this is more complicated and another reason to seek professional advice.
Ok, so writing your own will may mean you save money; compared with using a professional service. However, if you make any mistakes or get anything wrong, this may create problems for your family and friends when it comes to sorting out your finances after you’ve died.
Moreover, if you use a ‘will template’, the company that supplies it won’t take any responsibility for your will being correctly made. If you make any mistakes which cause problems when your will is read, there won’t be any legal comeback at all.
In the absolute worst-case scenario, where you get it badly wrong, it could even mean that your will is invalid, and the law decides who your money and property should go to.
If your circumstances fall into one of the categories below, you should definitely use professional help to write a will:
It is important for you to make a will whether or not you consider you have many possessions or much money.
At MTLS, we have over 35 year experience in will writing. Whether you’re making your Will or seeking advice on any other Private Client related work, we can help; ensuring that your last requests are carried out, and in helping you to provide for your family after you’ve gone.
FOR MORE INFORMATION ON WILL WRITING AND TO CLAIM YOUR FREE CONSULTATION, CLICK HERE
