They say that the only certainty in life is death – yet why do so many of us shy away of preparing for the inevitable? I for one can’t say it’s a subject I like to think about too often but it’s one we should at least prepare practically for.
The key legal document that we should all ensure we have in place is most definitely a Will. That being said though, there are so many different options online and on the high street where do we start?
Firstly, let’s think about the importance of a will and how it can alleviate stresses for you and those who are left behind in the event of your death – whether that be expected or unexpected.
How can a Will help you and your family?
Making a Will is essential if you want to be sure of leaving your property and possessions to your loved ones without any anomalies or discrepancies.
If you have children, it can say who should look after them if you died unexpectedly
You can name trusted individuals to handle the administrative side of dealing with your property and possessions
You can protect your assets for your family and future generations
A Will can include plans for residential care and tax planning
What happens if you don’t have a Will?
If you die without a Will, the Rules of Intestacy regulates who will receive your property and possessions. These regulations don’t necessarily reflect modern living arrangements and therefore it is vital that you have everything formalised in writing.
The importance of having a Will professionally written
Wills are important legal documents and a badly written or incorrectly worded Will can create even more problems than not having one at all. So it’s important to seek the help and advice of professionals who know exactly what they are talking about.
People continue to use DIY Wills and self help books to write their Wills but fail to take into consideration how a small mistake made now could be far more costly for their family in the long run.
That’s why we would suggest allowing Tony Rosenbaum, IFS Wealth Management, to support you with your will. For more information on how Tony can support please Click Here