It is estimated that one in three people die without having a Will or they have written a ‘Do It Yourself Will’ which if written incorrectly could mean that your Will is invalid, leaving the law to decide who your money and property goes to. We all know we should make a Will, but it is one of those things that many of us never seem to get around to.
If you die without a will (called dying intestate), the intestacy rules determine who inherits your assets. This may not be the way that you would have wished your money and possessions to be distributed and could cause chaos and financial worry for your family or dependants after you have gone. The whole process of applying for probate is also far simpler if there is a valid Will in place.
Unmarried partners and partners who have not registered a civil partnership cannot inherit from each other unless there is a Will, so the death of one partner may create serious financial problems for the remaining partner.
If you have children, you need to make a will so that arrangements for the guardianship of children under 18 are in place should one or both parents die. Children could be made Ward of Court until a decision has been found by the Courts if there was no Will in place.
The Benefits Of Having An Up-to-date Will
Give peace to your Family knowing your Wishes.
You can ensure that your assets go to the beneficiaries you desire rather than depending on a court to decide for you.
The existence of a will speeds up the probate process considerably, allowing your beneficiaries to receive the assets sooner.
The existence of a will reduces the chance of family disputes over property.
Is It Necessary To Use A Solicitor?
There is no need for a Will to be drawn up or witnessed by a solicitor. If you wish to make a Will yourself, you can do so. However, you should only consider doing this if the Will is going to be straightforward.
Solicitors will often use Will writers like ourselves to draw up the Wills as we are specialists in our fields. This leaves the customer with a large bill, not only for the Solicitors and the Will writers expense, but for the time in their office, the letters they send and the witnessing of the Will.
Croft Wills & Estate Planning will visit you in your own home or office. We discuss, advise and take your instructions. Our in-house specialist Lawyer (who himself has over 30 years experience in his field) draws up the Wills and Trusts, and we then deliver the final draft to you, only once you are happy and have agreed them. We can also assit you with the witnessing of the document. Our costs are substantially less than Solicitors fees.