How Your Will Is Essential For Your Children’s Security
Why are wills important?
Most people should have a Will. Wills can distribute your property, name an executor, name guardians for children, forgive debts and more. Having a will also means that you, rather than the law of intestacy, decides who benefits from your estate when you die.
A Will provides peace of mind, knowing that in the event of your death, your loved ones are taken care of.
27 million adults in the UK do not have a Will in place.
What does this mean for your family, loved ones and your estate should the worst happen?
If you die without making a will, this is known as “Dying Intestate” and in such cases, assets such as money, property and valuable possessions are automatically divided up according to the intestacy rules.
This means that there is the potential for your loved ones to be left nothing.
Who is left out if I don’t make a will?
What most adults in the UK don’t know is that your partner and those closest to you may not automatically stand to receive any of your assets should you pass away. Without a Will to formalise your wishes, your estate could be given to estranged members of your family or even to the Crown.
If you and your partner are not married, by law, your partner would receive nothing. If you have children together, they would inherit your estate, but your partner would receive nothing as of right. If you have children from a former relationship they may take everything including your home, leaving your current partner homeless.
It may be that you are very close to, and reliant upon, friends for help and support during your lifetime. Without a Will they will not receive anything under the intestacy rules. If you have no living relatives, your assets would pass to the Crown not to your beloved friends.
How can I make sure my estate is left to the people I love when I die?
The only way you can be sure that your wishes are adhered to in the event of your death is to make a valid Will. By creating a Will, you are ensuring that every single one of your wishes is executed following your death: From transferring family heirlooms, carrying out funeral wishes and perhaps most importantly to appointing guardians for your children.
How is a will made?
It can be hard to know where to start when writing your Will, but at DRN, we can make the process simple and affordable. Our experienced Will and Probate lawyers can work with you to draw up a Will that covers every one of your requests, with compassion and efficiency.
Writing a will as a parent can be a difficult subject, but we can help you make decisions that will enable you to live your life with confidence, knowing you have made plans to help support your children in the unfortunate event of your death.
To give yourself and your loved ones piece of mind in knowing you have made all the correct preparations, in the case of your death it is essential to write a will. You can never expect the unexpected so writing a will, whatever your age, is an important part of protecting your family.
DRN’s Private Client department deals with all aspects of private client work including Wills, Probate, Court of Protection and care for the Elderly. Well known and respected throughout East Lancashire and North Yorkshire, our team has more than 60 years’ combined experience in private client law.
Speak to one of our expert solicitors today on 01282 433 241, or pop into one of our offices in Burnley, Colne or Ramsbottom.