When you put a will in place, you can state how you would like your possessions to be shared out. Without a will in place, your belongings will be shared out according to the law, which may not have been how you would have wanted.
In the latest blog post from Broadbents Solicitors, we discuss some of the reasons you should create a will and what happens to your possessions if a will is not drawn up.
If a will is not in place, your belongings will be shared out according to the rules of intestacy. The rules of intestacy that are applicable will depend on factors such as the value of your estate, if you are married and there is a surviving partner and if there are any surviving children. It is important to note that if there is a surviving partner who wasn’t married to with the deceased, they will not have any automatic right to inherit anything.
Furthermore, having a will in place will make it easier for your loved ones to organise everything when you die. Without a will in place, the process could take much longer and become more stressful.
Thirdly, when a valid will is in place, there may also be less inheritance tax to pay on the value of the property and the money you leave behind.
In addition to stating how you would like your belongings administered, your will will also detail who you would like to be in charge of following the instruction in your will an organising your estate. You may name more than one person as the “executor”, giving you the peace of mind that your wishes will be carried out how you wanted them to be, as far as possible.
What’s more your will may also provide instructions on things such as your burial or cremation.
Making A Legally Valid Will
Although your will does not have to be drawn up on specific paper or use complex jargon, it does have to be signed by you in front of two witnesses. Additionally, your will must have been made when you were of sound mind and there must be no evidence of coercion.
Talk to Broadbents Solicitors
Here at Broadbents Solicitors, we have been guiding individuals through the process of drawing up a legally valid will for many years. Call our team today on the local numbers at the top of this screen or send your enquiry through to our online contact form for help creating your will.