Why You Should Write a Will
Our mortality may not be a subject we always want to engage with, but writing a will is a crucial task for everyone. Once you have given serious thought to whom you would like to leave your money, possessions and property to in the event of your death, it’s a relatively simple process to make a legally binding will that will give you the peace of mind of knowing that your final wishes will be carried out to your satisfaction.
Losing a loved one is one of the hardest experiences any family member has to go through and this emotional pain is only made worse in situations where wills have not been made. Making sure your last wishes are clearly defined, legally binding and up to date is the only way to take this bureaucratic stress away from your family.
Make sure your wishes are carried out
Whether you are dealing with sizeable trusts or small personal possessions, it’s incredibly important to make sure that your worldly goods are passed on exactly as you would wish them to be. Not only will this prevent added emotional pain to those surviving, it means that you can be sure your final wishes will be carried out. If you do not make a will, your estate will be divided according to the law, which may not be in allegiance with your wishes.
Appoint an Executor and Power of Attorney
It’s crucial to appoint someone you trust to be the executor of your will. This person will be responsible for organising your estate and following the instructions you leave with regard both to inheritance and your funeral arrangements. You can appoint a professional executor but many people choose to name a close relative like a spouse or civil partner as it is possible for your executor to be a beneficiary of your will. That said, some people choose another trusted relative or friend to take away this administrative burden at a time of grieving. Powers of attorney is another important role you need to get covered. Giving a trusted family member power of attorney generates a legal document that allows them to make legal, business and financial decisions on your behalf should you become incapacitated.
Provide for your dependents
Making a will is an important task for everyone, but it’s a particularly crucial task to complete if you have a spouse, children or other family members who depend on you financially. Not only does failing to leave a will mean your estate may not be divided as you would wish, it can also increase any inheritance tax bill. Also, if you are in a situation where you do not wish your immediate family to benefit from your will, it is equally important to make sure your wishes are legally set down according to the legally binding rules of probate.
For a friendly and professional will writing service, contact Heritage Will Writers on 01603894500 to arrange a free home visit.