Why do I need a Will?
- To have complete control of what happens to your assets and estate when you die.
- To ensure that your family, friends and any dependents have the security that they deserve.
- To be able to make a donation to a charity or good cause of your choice.
What happens if I don’t have one?
- Without a Will, your assets will be divided according to the Law of Intestacy. This may not meet your wishes and may mean your estate doesn’t go to your intended recipients.
- If you’re married with children, your spouse may not automatically inherit everything you own.
- Instead, your assets may be divided between your spouse and your children.
- If you aren’t married, your partner may not get any of your assets.
When will I need to change my will?
- After a marriage. You need to include your new spouse in your estate plan, and if you didn’t have a contemplation of marriage clause in your will, your will is now invalid.
- After you experience a significant change in your estate’s value. For example, your stock holdings may go way up (or way down!).
- After a divorce. You most likely want to change what you planned to leave to your ex-spouse.
- After your spouse’s death. If you left a significant portion of your estate to your spouse in your will, you need to update your will.
- After the death of one of your heirs or dependents. If an heir dies before you do, you need to update your will to reflect a new recipient.
- After any other change in your life that causes you to re-evaluate to whom you want to leave something. For example, you become passionate about a specific cause and decide that you want to leave a large portion of your estate to some charity that champions that cause.
- Birth or adoption of a child/grandchild. You will want to ensure that all children/grandchildren will benefit from your will; you don’t want to leave anyone out!
- Children have reached the age of eighteen. Now your children our 18 they could act as executors if you wish or you may have put that your children could receive something at 18 and may want to increase this to 21.
- A change in the circumstances of your executor, guardians, trustees, etc. Someone may have moved to the other side or the country, abroad, or no longer be in a position to be an executor/guardian/trustee.
- You have moved. Although it isn’t necessary to change your address in your will, you may want to check that your property is owned the same as your old one.
How can we help?
- A personal and professional Will writing service.
- Our trained Consultants are here for you and will visit you in your own home.
- We are able to guide you through the whole process from taking instructions for your Will right through to signing and storing the final document.
- For further advice please contact our Estate Planning Consultant, Josie Jackson on 01773 830333 or email enquiries@eastmidswills.co.uk
