Why make a Will?
A properly drafted Will allows you to be sure that your property and possessions (Estate) pass to those you would wish to inherit (Beneficiaries) – loved ones or charities of your choice. You can also ensure that chosen trusted individuals named by you in your Will (your Executors) deal with the administrative side of dealing with your estate.
If you have children, you can nominate Guardians in your Will to look after them whilst they are still minors if you die unexpectedly.
What if I don’t make a Will?
Without a Will your property and possessions will pass under the Rules of Intestacy. This means that your estate is unlikely to pass to the Beneficiaries you would have chosen and it could even pass to the Government!
The Rules of Intestacy do not for example make provisions for unmarried partners, step-children, friends, godchildren or even charities.
You will have no say in who administers you estate.
When should I update an existing Will?
You may have an existing Will but it is important to review it frequently and to update it according to new circumstances or an increase in your assets. The birth of children or grandchildren may change the way you wish to distribute your estate. Separation and divorce or bereavement may also change your wishes.A Will is also revoked by subsequent marriage unless it states that it is made in contemplation of that marriage.
Why should I use a professional will-writer?
Wills are important legal documents and if badly drafted or worded can cause unforeseen problems for those left behind.
Richard Patterson will explain to you in plain English how to get the results you want and the implications of any decisions you make.