Do you have a will? It’s not something most of us like to think about but a will can help to protect those you live after your death. Here are some compelling reasons to get your will sorted out sooner rather than later:
- Naming your children’s guardian
A will doesn’t just share out your estate but also provides you the opportunity to say who you wish to care for any dependents under the age of 18. If you don’t, decisions are left to family courts who might choose someone you would have disagreed with.
- Financial help for children
You can also leave plans for providing for a child’s future financially. Perhaps you have money you would like to set aside for their education or hobbies or to put into savings for helping buy their first home. You can also set up a trust, giving you greater say over how and when they receive the money. None of this might be done if it’s not stated in a legal will. For a trusted Solicitors Manchester, visit https://bridgelawsolicitors.co.uk/offices/wilmslow-manchester/
- To provide for stepchildren
Stepchildren could be a huge part of your life or your only children, but did you know that the law states only spouses and blood relatives can inherit when there is no will? If you dearly wish your stepchildren to receive anything after your death, you must include them in a will. The same is true for foster children.
- Unmarried partners
No matter how long you have been together, no will means no entitlement to anything from your estate should you die without a will. If you want your partner to inherit their fair share, then you must include this in a will.
- Protecting property
If you own a property and live there with an unmarried partner and stepchildren, they are not automatically in line to inherit should you die without a will which could leave them homeless. With a will, you can leave them a share of the property or provide them with right to reside.
- Avoid disputes
When a person leaves no will, the process of dividing up an estate can cause families to fall out and squabble. Contested wills can be stressful and upsetting and also expensive. Leaving a clear and well-prepared will that express your wishes and intentions can help avoid these disputes altogether.
- Decide who should settle your affairs
When you write a will, you can decide who you want to be the executor or executors of that will. These are the people who will deal with carrying out your last wishes on your behalf. This gives you the chance to find the best person for the job and gives them prior warning that this is expected of them on your death.
- Who takes care of your pets?
Our pets mean so much to us in life, that is only natural that we want to do right by them in the event of our death. If you own cats, dogs or any other type of pets, they might need looking after if you die. It is common for plans to be put in place for someone to take care of them or people put some money aside to pay for their food and veterinary care in the future.