There are many reasons why it is important to make a will. Below, in no particular order, are some of the reasons that will be uppermost in most people’s minds.
1. Gifts to your partner
If you are not married or in a civil partnership then it is absolutely essential that you make a Will as your partner has no automatic entitlement to your estate.
2. Gifts to your spouse
Your spouse or civil partner inherits automatically under the intestacy rules if you don’t make a Will. However, the intestacy rules limit the amount your spouse or civil partner will get if you have children. In those circumstances, making a Will is the only way to decide what they get.
3. Gifts to your children
Although the intestacy rules allow your children to inherit automatically, making a Will allows you to defer the age at which they can inherit so that they are more responsible by the time they get their inheritance.
4. Gifts to charity
Charities rely on gifts from Wills for a significant amount of their funding. Making a Will is the only way you can make a contribution to your favourite charity after you’re gone.
5. Choose who will look after your children
If you have children under 18, making a Will gives you the opportunity to say who should look after them when you’re gone.
If you haven’t made a will and you want to do so now, please get in touch for fast, reliable advice.