People put off making a Will for many reasons; sometimes these reasons are because they think they do not need to make one as their next of kin will automatically inherit. The reality is that if you die without making a Will, then this can pose many problems for the people you leave behind. Everyone should make a Will, especially if you own property or have any savings, by making a Will it makes things easier to sort out when you are not here.
Here are some reasons as to why you would make a Will:
- To stay wealthy and pay less inheritance tax;
- To choose who will inherit your assets;
- Reducing state intervention on your affairs;
- To ensure your business can carry on trading after your death;
- To protect your inheritance for your bloodline;
- To make provisions on how your children will be cared for;
- To make provisions for any disabled children;
- To allow a relative to remain living in your property;
- To simplify the process of probate;
- To make provisions for your spouse, partner or civil partner who would not automatically inherit;
- To appoint guardians for your children;
- To donate a gift to a charity/church;
- To make sure your funeral wishes are known;
- To ensure your pets will be looked after;
- To appoint your own Executors;
- To plan and arrange your funeral wishes;
- To exclude who you would not like to inherit your assets (who would normally be automatically included under the current Intestacy Rules).
By making a Will, this enables you to plan exactly what will happen to your wealth when you die; this ensures that those you would like to benefit will actually do so, in accordance with your wishes and at the same time to avoid any disputes between relatives.