Why make a will?
When should I make a will is one of the most frequent questions clients ask us. Yet, it remains the one which we constantly find ourselves having to persuade people to actually do.
A will is one of the most important documents you will have to make decisions on in your life. It most certainly should not be left until it is too late.
While everyone should have a will made, specific circumstances might act as a prompt. Clearly, an advance in age is an obvious indicator but so should any major life events.
Whether that event is having children, getting divorced, moving abroad, buying a house, retiring or finally winning the lotto, a will should be high on your priority list.[soundcloud id=’243897843′]
Can you have too many wills?
Remember that a will can be altered at any time before your death. A will can also be revoked and a new one made. It is important to note that a marriage acts to void any previous will (because it is seen as a change of status).
So, if you have made a will in which you did not specify that you were going to marry the person you subsequently did, then that will is now void and a new one needs to be made.
We would advise you to destroy a will if you make a new one. There is no central registry to check to see if a will is the most up to date will!
The Importance of a Will
Most people know that a will decides what happens to your property after death. What most people may not know is the way the law will distribute your property if no will exists.
The process used when no will exists may not suit your family situation and takes control away from you as to who inherits at a point where it would be too late to change.
No matter how small or big, your possessions can be gifted to whomever you desire on death by creating a valid will. What is more, you can choose who has responsibility for this important task by assigning who will be your executor.
Your freedom to make any will desired as set out above does come with some general legal obligations (such as a duty to provide for a spouse and/or children left behind) but still leaves the power primarily in your hands.
For parents of children with disabilities who may be unable to manage their own affairs, a will takes on an increased importance. It allows the appointment of guardians and to make sure each child is properly provided for should the worst happen.
Some Practical Benefits
A will also has some immediate practical benefits. It can make it much easier for friends and family if they know their loved one’s wishes after death are documented and can be seen to.
What is more, a will can provide for how you want your funeral to be dealt with including burial in a certain place/cremation etc. These can be difficult topics to discuss and are often easier to simply state in a will.
If you would like to speak to Lynch Solicitors about getting a will made, call us on 0526124344.