You may have often wondered whether you should have a Will and found the thought quite daunting.
A Will is an important document regardless of your wealth or age, and it safeguards a person’s right to many decisions, including who will administer your estate, who will receive your estate and who serves as a guardian for young children.
It is a mistake to assume that your next of kin will inherit your entire estate (or an equal share) if you do not have a Will.
In order for a Will to be valid you must follow strict but simple steps. These include:
- Make it voluntarily
- Be of sound mind
- Make it in writing
- Sign it in the presence of two witnesses who are both over 18 (and are not beneficiaries; who in turn would then sign as witnesses or acknowledge the signature) – there is a process if ill and unable to sign.
Any changes to your Will must follow the same signing and witnessing process.
What Happens If You Don’t Have A Will
If you don’t make a Will, you will die ‘intestate’ and your estate may not go to the people you want.
There are special rules for how your estate will be distributed these are called intestacy rules.
If you and your partner aren’t married or in a civil partnership and you haven’t made a Will, they have no automatic right to inherit from your estate. This applies even if you’ve lived together for a long time or have children together.
Get the right help
Please REMEMBER having a D.I.Y. or poorly drafted Will can cause problems for your loved ones at a later stage, which can result in high costs and delays.
By contacting Beacon Wealth Legal you can be sure that your Will shall provide the best protection for your property and affairs.
We are offering remote advice via telephone and video meetings, as well as electronic forms.