You are likely to have a million and one things to spend your money on each month, but if you have’t already made one, a Will really should be one of them. It doesn’t matter whether you’re young or old, rich or poor – a Will is an important part of planning for your future as no-one knows what’s coming next.
Lots of people have misconceptions about Wills. Many people assume that they are too young or too poor to need a Will, when actually there is no threshold for either of these factors. How you will be buried, who inherits your house and the legal guardian of your children are all decided by your Will – so nearly everyone should have one in place.
Your Last Will and Testament, to call it by its proper name, is a legally binding document that explains how you want to divide up your assets when you die. This may not seem very important at the moment, but your Will can make a huge difference to your family after your death.
Why Do I Need A Will?
If you die without a Will, your estate will be dealt with by the laws of intestacy. These are strict criteria which decide who inherits from your estate and how much they inherit. If you are married, your spouse will only inherit a percentage of your estate, whereas with a Will, they would inherit it all if that was your wish.
Not only does a Will protect your family, it also guarantees that parts of your estate are not given to anyone you do not wish it to go to, for example an ex-spouse. If you do not make a Will and you are divorced, your ex-spouse may be entitled to some of your estate.
In addition a Will can make sure that your estate is as tax efficient as possible, so your family don’t pay a penny more in inheritance tax than they need to.
How Can Mark Cook Solicitors Help Me?
At Mark Cook Solicitors, we pride ourselves on being straight forward when it comes to talking about the law, especially in an area which is often riddled with jargon and complicated language. Making a Will does not have to be complicated and we cover all areas and details that affect you and your family to make sure you have a comprehensive Will in place.
We have helped clients just like you secure their families future with a Will for many years now and we can help you too.