What is a Will?
A Will is a crucial legal document that outlines how your assets and affairs should be handled after your death. It ensures that your wishes are honoured, provides clarity to your loved ones, and can help prevent disputes among family members. Without a Will, the state determines how your estate is distributed, which may not align with your desires. Additionally, a will can designate guardians for minor children and outline your wishes for end-of-life care. Having a Will provides peace of mind, knowing that your legacy will be managed according to your specifications.
Types of Wills
- Single Will: A straightforward Will made by an individual, specifying how their assets should be distributed.
- Mirror Wills: Often used by couples, these Wills reflect each other's wishes, typically leaving assets to the surviving partner or similar beneficiaries.
- Trust Will: Includes provisions for creating a trust to manage and distribute your estate, which can provide additional protections for beneficiaries.
When Should I Start Writing my Will?
It’s never too early to start planning your Will. Significant life events such as getting married, buying property, or having children are good times to begin or update your Will. Regular reviews ensure it reflects your current wishes. If you’re writing your Will for the first time, check out this helpful guide on what to include: https://www.lambbrooks.com/news/what-are-the-most-important-things-to-include-in-a-will.
Do I Need a Will?
Yes, having a Will is crucial. It ensures your wishes regarding the distribution of your estate, the care of dependents, and other personal matters are honoured after your death. Without a Will, your estate will be divided according to intestacy laws, which may not align with your intentions. A Will also helps prevent family disputes and offers clarity during difficult times.
If you are looking to take control of your future and protect your loved ones with specialist solicitor guidance, please get in touch with our Legal Director, Zafna Hassen on zafna.hassen@lambbrooks.com or call 01256 844888.