If you happen to die without having made any binding declaration in relation to your property or assets, any valuables you leave behind will be ‘intestate’. With the absence of a Will, intestacy rules dictate how real estate, assets, monetary funds and any valuables should be distributed. A Will or binding document is the only way you can ensure that any valuables are inherited by people you love or causes you support.
If you are thinking of writing a Will, here is a simple breakdown of the document you will leave behind for your loved ones. A Will is generally divided into 6-7 sections:
A DIY Will could be considered legal in the event of your death, if the document is properly drafted and all requirements are met. How do you then ensure that you will be leaving enough provisions, so that your Will is legally acceptable as a valid public document? Your property and assets could become intestate if you don’t make adequate provisions to leave a legally acceptable document. If your heirs do try to contest your intestate state, the cost could be very high.
You have two options to ascertain your Will is legally acceptable, thus avoiding probate, contestation in court or family feuds. 1) You can use a Will writing DIY kit and then get a solicitor to check, make amendments and give it the seal of approval. 2) You can get a solicitor to write the Will. Without legal assistance, serious mistakes are sure to be made. Lack of clarity will man that the Will is deemed invalid and for a certainty disputes will occur. Our advice is that you give us a call and we can offer an initial free consultation to help you decide when and how you should make provisions for your loved ones. SG
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