We understand here at Pro-law that thinking, talking, and planning for death can be an uncomfortable experience. However, not having a Will in place can create additional work and expense for your loved ones and it may leave your affairs in limbo.
Not having a Will may mean that people you wish to leave money to, do not receive anything, or people you do not wish to leave any money to, do receive it. It is of course possible to write a Will yourself, but this can be quite a risky task especially if your estate is large or complicated. Let us help you through the process.
We spend as much time as is needed to consider personal circumstances and wishes to create the right Will for you! Of course, whilst ensuring that it is legally valid and that all options have been considered.
There are many different factors as to why a Will is important, such as:
- It can provide stability for children. If you have children or stepchildren who are under 18 years of age, then you can choose who will look after them and ensure there are appropriate funds in place for this.
- The law does not recognise unmarried couples, therefore if a Will is not in place, any property or money will not automatically go to your partner.
- Marriage cancels any existing Will that is in place. The possibility of more complicated family arrangements means consideration of a new Will is important.
- It can make provision for your children if you get re-married.
- If you have any pets your Will can let you plan who will care for them.
- If you have a specific request for your funeral, this can be set out in your Will, so that your family do not have to make the decisions whilst grieving.
- If you are a sole director of a company and you pass away without executors, there will not be anybody in place to authorise payments (this includes to your staff members) which could cause the business to collapse.
- You may want to consider a ‘living will’, otherwise known as an ‘advance medical directive’.
This is not an exhaustive list but shows the power and influence a Will can have once you are gone. It allows for financial planning, family arrangement planning, business planning and acts as an expression of your wishes. If you do not have a Will in place, it would mean that the rules of intestacy will apply. These rules will decide for you who receives your estate, which may not reflect your wishes. This is another reason why it is important to keep your Will up to date, as your wishes and circumstances may change.
At Pro-law, once we have written your Will, we can then offer the service of Will storage. This means that we will keep a copy of your Will safe for whenever it is needed. This service is offered at no additional cost.
Often our clients wish to draw up a Lasting Power of Attorney at the same time as creating or updating their Will. This allows somebody to manage your affairs, in your best interests, when you may lose capacity to do so. To find out more about LPAs – please click here.