Making a will isone of those tasks many people intend to do, but delay for years. It can feeluncomfortable to think about, or easy to put to the bottom of the list whenlife is busy.
Yet a will is notonly about money — it is about clarity, reassurance, and taking care of thepeople you love. When someone dies without a will, families are often leftdealing with uncertainty and additional stress at an already difficult time.
A properly preparedwill allows you to set out your wishes clearly and reduce the risk of confusionor disagreement later.
A will sets outwho you want to benefit from your estate and who should take responsibility foradministering it. It can include your home, savings, possessions, and anyspecific gifts you wish to leave.
It can also:
l appoint executors to dealwith the practicalities;
l protect youngbeneficiaries;
l set out guardianship forchildren under 18;
l reduce the likelihood ofdisputes by making your intentions clear.
For many families,the greatest value of a will is not financial — it is the comfort of knowingthere is a plan.
If you die withouta valid will, your estate is distributed under the rules of intestacy. Thoserules can produce outcomes that people do not expect, particularly where familyarrangements are more complex.
For example:
l unmarried partners may notautomatically inherit;
l stepchildren have noautomatic entitlement under intestacy;
l family members may berequired to apply for authority to administer the estate;
l the process can take longerand involve more administration.
Even where thelegal outcome broadly matches what you would have wanted, the lack of clearinstructions often makes things more difficult for those left behind.
Many people delaybecause:
l they believe a will is onlyneeded later in life;
l they assume their familywill “know what to do”;
l they are unsure what asolicitor will ask them;
l they worry it will beexpensive or complicated.
In reality, theprocess can be straightforward, and a solicitor can guide you step-by-step.Most people find that once they begin, it is far less daunting than theyimagined.
A will should bereviewed when circumstances change. Common triggers include:
l marriage, divorce, orseparation;
l the birth of children orgrandchildren;
l buying or selling property;
l changes in financialcircumstances;
l the death of a beneficiaryor executor.
Keeping your willup to date helps ensure it continues to reflect your intentions.
A will is apractical way to care for your family. It provides clarity at a difficult timeand reduces the risk of confusion, delays, and disputes. If you have been consideringmaking a will, it is often best to do it while life is settled and you havetime to think carefully about your wishes.
SheltonsSolicitors can help you prepare a clear, properly drafted will and offer calm,supportive guidance throughout the process.
SheltonsSolicitors
Visit: www.sheltons-solicitors.co.uk
Call: 0115 955 3444
Email: info@sheltons-solicitors.co.uk
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The informationcontained in this article does not constitute financial advice orrecommendation and should not be considered as such. Sheltons Solicitors doesnot offer financial advice and is not regulated by the Financial ConductAuthority (FCA), the authors of this article are not financial advisors and aretherefore not authorised to offer financial advice.
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Inheritance can be a sensitive subject even in the closest families. When a will does not reflect what someone expected — or when circumstances raise questions — emotions can run high.
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Making a will isone of those tasks many people intend to do, but delay for years. It can feeluncomfortable to think about, or easy to put to the bottom of the list whenlife is busy.
Most people understand the value of making a will, but fewer appreciate the importance of planning for their lifetime as well.