According to reports, 700,000 adults over 75 and 30 million other adults in the UK do not have a Will.
A Will is a legally binding document that expresses your wishes for what happens to your estate upon your passing. Your wishes might not be carried out if you pass away without a Will since the rule of intestacy will then apply. Here are just a few justifications for why you ought to draft a will:
To control what happens when you die.
To name your children’s guardians.
To avoid paying more tax than necessary.
To protect your partner if you are unmarried.
To safeguard your family home.
To reduce the chance of a dispute.
To make gifts and donate.
There are numerous life events that serve as catalysts for creating a new will or revising an old one, such as getting married, purchasing your first house, having children, or ending a relationship.
If you pass away without having made a Will you die “intestate” which means you have lost the chance to decide on the matters mentioned above, if you pass away without having created a legal Will the law intervenes, so then determines who gets your assets and who settles your affairs.
If you are living with a long-term partner your not married to, or have not entered into a registered civil partnership with, or if you had children from a prior marriage, the application of the intestacy regulations may be especially unfair.
Dying intestate not only means you lose control over where your assets end up, but it also means handling your estate will take longer and cost more money, which will be an extra hardship for your loved ones.
Although creating a Will doesn’t have to be costly or time-consuming, it is wise to do so.
Make it your New Years Resolution to make a Will or to review and update one you already have, in order to provide peace of mind for you and your loved ones.
We offer a service where we will come out to your home to take instructions.
Kindly reach out to us for additional details.
If you would like any further advice, please do not hesitate to contact us:
3C Legal Limited
Tel: +44 (0) 1684 212147
Mobile +44 (0) 7707 644738
info@3clegal.co.uk