The Consequences of Not Having a Will

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Most of us work hard during our lives to keep ourselves and our families safe and protected as well as having some left over for holidays and other small luxuries. We also pay our taxes and other contributions to ensure we are looked after in our old age. So, with this in mind, when you put all your paperwork in place for your future, don’t forget about your will. This is very important as without a will, it is the government who will decide what happens to your finances and not you!!!

Everyone has a right to decide what happens to their estate once they pass away which is why it’s crucial to select a professional will writing service to ensure your specific needs are met.

What Happens if You Don’t Have a Will in Place?

Without a will you run the risk of leaving your family in the lurch when it comes to benefitting from your estate. For example, your home may end up being given to the ‘wrong’ people or your entire wealth could be eaten up by lengthy and expensive legal disputes.

What’s more, you may be subjected to further inheritance tax, with 40% of your life’s earnings and estate handed over to the government.

So, although many people put sorting out their will to the bottom of their to-do pile or feel it’s a bit morbid to make plans for after their death, it’s a very important action you should take. This is particularly important if you are married or have children.

What to Avoid When Making a Will?

A will doesn’t have to be complicated but it’s still important to use the services of a professional will writer as it can be easy to make mistakes which will make your will invalid. Errors can include minor inaccuracies in terms of your contact details or status through to major issue like the legal requirements needed to ensure your will is valid.

You will also need to take account of the possibility that a beneficiary might die before you, and of the many effects a marriage, civil partnership or divorce can have on a will.

It’s perfectly legal to draw up your own will, and there are advantages to undertaking it yourself, but the amount of time required to research and cover every possible outcome more often than not results in human error of some form.

If you get your will wrong in the first place, you could ultimately end up spending more time and money toing and froing with a professional will writer to get it right. That could mean increased costs eating into the estate you’re trying so hard to protect for the people closest to you.

Why Use the Services of a Will Writer?

When it comes to writing a will there are some crucial things you need to take into account including:

·        Choosing the most appropriate executor(s)

·        Listing all your assets

·        Limiting your exposure to inheritance tax costs (legally)

·        Creating trusts for young children

·        Protecting your property from care home fees

·        Confirming funeral wishes and arrangement.

By covering all of the essentials listed above, you will be securing the foundations from which your loved ones can move on after you pass away.

At Swansea Legal Solutions, one question we often ask clients who are reluctant to make a will is: “Imagine what life would be like for your family If you didn’t make a will?”

Without a proper will, the legal system will decide what happens to your money, and that could add unnecessary stress to an already highly emotional situation for the people you leave behind.

A professional will writer, who is a member of the Society of Will Writers, has the knowledge and experience to ensure your will is water-tight, taking the pressure of your loved ones when you pass away.

If you’re ready to write your Will but feel you need an experienced hand to guide you, the team at Swansea Legal Solutions can help.

What’s more, we are offering those over the age of 55 the opportunity to get a free basic or mirror will during the month of November. To book your appointment, call us today on 01792 420844.