5 Reasons You Should Make A Will
Writing a will should be at the top of your to do list this winter. It may seem like a small omission but not writing a will can cause problems for remaining family members in the unfortunate event that you die. It's not just rich people that are required to write a will, you should divide your assets no matter how small they are, for the following 5 reasons:
1. In the absence of a will your assets will be distributed according to law rather than by your wishes. This means that family members who don't need the money could end up receiving it.
2. Partners that are unmarried and cohabiting could face serious problems, especially if assets are registered under just one name. In some cases the surviving partner has been forced out of the shared home by indirect relatives who have inherited it.
3. It is important to make arrangements for any children that you have. In your will you will be able to declare which family members you wish for them to live with in the event of your death.
4. It will benefit the finances of family members if you write a will. Inheritance tax is significantly less when considerations are made in advance.
5. Even if you have a will already in place, your circumstances may have changed considerably since it was last reviewed. For example, if you have separated from a partner and are now living with someone else, you may want to remove them from your will.
Drawing up a will can be a cheap and easy process with the help of a solicitor, so there is no excuse for not sorting one out right away. If you need further guidance on wills or inheritance issues you can visit a Citizens Advice Bureau to discuss your worries.
Walker Smith Way are collaborative lawyers who can assist with Wills Cheshire
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