COVID-19 – Secure Your Assets, Protect Your Loved Ones
It’s never too early to plan ahead.
For many, the prospect of writing a Will can be daunting, and the task may be put off due to the fees involved, or the wish to avoid having to think about the legacy you would like to leave behind for your family members and friends upon your death.
It isn’t the easiest topic to address and can often be quite an emotional experience, however it’s important to outline your wishes formally and to set your Will in place, particularly in these uncertain times.
Writing a Will will allow you to define what should happen to your assets, including your finances, property, valuables and any family heirlooms and, if they are to be gifted as inheritance, to whom they should be awarded.
Whilst it is a common belief that merely expressing your wishes to a trusted member of your family or a close friend is enough to see them enacted upon your death, unfortunately this is not the case.
The only way to guarantee that your wishes are fulfilled, your loved ones are protected, and your assets are secured with the ones who matter most, is to write a Will.
Passing intestate (i.e. without having a written Will in place) can cause unnecessary stress for your loved ones. The situation could be particularly complicated if:
- You are in a relationship, but you are not married or in a civil partnership with your partner. If this is the case, it is inadvisable to assume that they will receive any of your assets automatically upon your death, even if you are co-habiting.
- You have children from a previous relationship and have since re-married. The children you have with your previous partner may not receiving anything.
- You have step-children. Your step-child(ren) will not receive anything of yours after you’ve passed, even if you’ve raised them as your own, unless they have been formally adopted.
- You are separated from a previous spouse but have not yet received your decree absolute or finalised your divorce proceedings. If this is the case, even if you have both moved on to live with new partners, your estranged spouse could still inherit a portion of your assets.
Take the first step in writing your Will today.
The expert solicitors at DRN have several years of experience in handling Wills, Probate and Inheritance, and are dedicated to providing the very best standards of client service, including providing sound, reliable advice that you can trust.
DRN is a member of the Law Society’s Wills and Inheritance Quality Scheme; the membership of which is selectively awarded to the practices which are able to demonstrate the highest standards of technical expertise and customer service.