Although writing your will may be the last thing on your mind, it is important to have it done to enable your assets to be appropriately distributed. If you don’t prepare a will, you risk your assets being left to the wrong people. A will written up by an expert has numerous advantages, it gives you peace of mind knowing your final wishes will be granted.
Having a will prepared in the event of your death helps to protect your estate from being contested. Research conducted in the UK suggests that there has been a significant rise in the number of estates being contested after the owner has passed away. So, without a will you leave your property vulnerable to challenges from individuals who you may not have put in your final legal document. You’d be surprised to find out that many people contest money, assets and property after someone has passed away, even when they knew they’d be left nothing in the will. The only way of avoiding this scenario is to have a certified will writer draw up your last requests, this stops anyone from making an unjustifiable claim to your assets.
If you don’t make your last wishes known, how are your friends, family members and loved ones supposed to know what way to distribute your assets. Without a will you lose out to the rules of intestacy. Nothing will be allocated to the people who matter in the way you would have wished for, this can also cause many problems, especially if you’ve left a considerable amount of money, a large estate or any other expensive assets. It is important to have your last request granted, don’t leave it in the hands of someone else, make your wishes well known, so your assets go to the right people.
Avoid Financial Hardship
If you’re in a relationship, but you’ve yet to get married or you haven’t entered into a civil partnership, you could be leaving your partner with nothing when you pass away. You may have every intention of leaving them with a large chunk of your assets, but if they aren’t legally recognised as your other half, they may receive nothing if you haven’t drawn up a will.
Another important reason to prepare a will is for your funeral costs, funeral expenses continue to rise and leaving your family members to take care of funeral arrangements may cripple them financially. You should consider arranging prepaid funeral plans and having them written into your will, this means your loved ones won’t have to worry about costly funeral arrangements at a time when they are supposed to be grieving a tragic loss.
The points mentioned in this article are only a small sample of the many reasons to consider preparing a will before you pass away. Nobody wants to consider their own death, but it is an inevitable part of life that we all must face. If you want to ensure your loved ones are well taken care of, it is vital to prepare a will.
Latest posts by Katie (see all)
- To what extent are financial and mental health linked? - 20th July 2018
- How to Reconnect with Your College Kid? - 13th July 2018
- What happens when you have committed a criminal offence? - 11th July 2018