Last Will and Testament

Making a Will is an essential part of your Inheritance Planning. It allows you to specify who should inherit your home, money, and other possessions. Once in place it prevents your loved ones from experiencing unnecessary stress, delays, and costs in accessing their rightful inheritance.

What do you need to consider?

When you are making a Will, you may just think you need to say who you want to leave your home, possessions, and investments too. If you have a number of beneficiaries, you will need to consider how your estate is split and who will get those very personal items that have special meaning. But there are other factors you need to consider, such as:

Appointing Guardians for your children if you pass away before they are eighteen
Choosing the age at which your children or grandchildren inherit
Who will make a good Executor?
Do you want to leave specific gifts and/or legacies to people or charities?
You can document your funeral wishes and pre-pay for your funeral
Let people know your organ donation preferences

When you are making a Will, you may just think you need to say who you want to leave your home, possessions, and investments too. If you have a number of beneficiaries, you will need to consider how your estate is split and who will get those very personal items that have special meaning. But there are other factors you need to consider, such as:

What happens if I don’t have a Will?

Without a Will, there are a set of rules outlining who will inherit your possessions. This can make the process of dealing with your Estate more difficult and stressful for your family. The rules are intended to be fair, but they may not suit you as they are based on outdated laws from nearly a century ago, and society that was very different back then. For instance, the rules of intestacy make no provision for a partner if you are not married or in a civil partnership, even if you have lived together for many years.

Because of this, everyone should have a valid Will; this is particularly true if you own property, are single, married, have entered a civil partnership, or have a long-term partner. It also applies if you have children or other dependents, or if you wish to leave something to someone who is not a close family member.

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