No one likes to talk about what will happen to everything they worked hard for all their lives. Mortality is the only certainty we all share. But some of us can empower what we leave behind and positively affect those we love and causes we support. Setting out who inherits your property, assets and possessions requires a legally recognized document – a legally recognized Will. In the event of your death, a Will specifies exactly how your valuables should be distributed and who will look after your children or dependents.
When you make a Will, you are able to name the executor of the Will, appoint guardians for your children under the age of 18, appoint carers for any dependents over 18 requiring special care and new owners for your pets. You can name charities as beneficiaries and leave legacies to specific people who will inherit certain possessions or sums of money.
A Will allows you to create Trusts and Foundations for future generations who will benefit from your wealth. You can also lay out your funeral plans in a Will and stipulate how your funeral arrangements should be carried out.
Will writing solicitors will guide you through the process step by step. A Will is unique to your circumstances and your estate, so that if for instance, you are married, divorced or have any dependents, provisions should be made in accordance with your wishes and the law. Once you have a Will written, you can change it or make any amendments, so it doesn’t necessarily mean it’s final before you die.
If you decide to contact a Will writing solicitor, you can have an initial consultation where your circumstances will be assessed and an estimate will be calculated. A solicitor can advise you in all aspects of your Will including inheritance tax.
Whilst the new trend is to write your own Will with a DIY kit, Wills are very complex and without expert advice, you will more than likely leave behind a combination of difficulties and problems for your heirs to resolve. Your Will could even be declared invalid. Always seek the expert advice of a Will writing solicitor. SG
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