willsni.com

Why you should make a will

Even if you don’t have much, you still need a Will.

You may think that because you have no land or property, a Will isn’t necessary, but believe us, people will fight over who gets your TV once you’re gone.

If you die without leaving a Will, the Intestacy Rules will kick in. These are the Government’s default rules for dealing with inheritance, which may not be to your wishes.

For example, under the Intestacy Rules, Common Law partners may not receive anything. So if you’ve been with your partner for 30 years but aren’t married, they might not get anything without a Will to specify.

Even if you are married, intestacy doesn’t guarantee your partner will automatically inherit everything. Other relatives will have a right to put a claim in for something, and you cannot prevent certain family members from benefiting.

Through intestacy, it is only family members who can inherit something. Without a Will, you cannot leave anything to friends, colleagues or even charities.

Why make a will

Protecting your loved ones

Making a Will ensures your assets go where you want them to go. Without a Will, your assets will go to your nearest relatives, whether you want them to or not.

Even if you do want them to go to your nearest relatives, there are still ways they can lose out.

Without a Will, you cannot prevent your family from being liable for a large tax bill of up to 40% on whatever exceeds the inheritance tax allowance.

Without a Will, your family may have to consult a solicitor who will deduct a fee from their inheritance.

Without a Will, any children under 18 might have a court-appointed guardian to decide their future, rather than whom you would prefer.