Ultimate Control is achieved by writing your Will.
SLS have written a short blog detailing 3 reasons to write your Will. These should be common sense but that still doesn’t explain why about 60% of the UK adult population don’t have a valid Will.
I use the term valid because some well meaning people will have a Will but won’t realise that it’s invalid or a gift within it may fail.
If you do decide to write a Will, please seek professional advice. Don’t rely on the ‘advice’ of your friend who says, you can write one yourself. Whilst, this may be the case, in writing it yourself you may be drafting all sorts of issues that are likely to come to light only when you die.
Your Will gives you the power to decide what goes to who.. Sounds simple, doesn’t it? Well without a Will, the rules of intestacy will define the distribution of your estate and this may not be what you want. Additionally the rules are dictated by the value of your estate so not everything will go to your spouse or civil partner necessarily. If you have a Will and would like a free review of it, speak to Sara here at SLS Wills and More and she will look at it and in speaking to you confirm whether it does what you are expecting.
If you’re a parent of a minor child (someone under the age of 18), write a Will! Again, this is common sense to many but lots of first time parents or parents of young children haven’t got Wills! This means that they haven’t appointed a legal guardian for the children and in reality, if something should happen to them, the courts will decide who has legal responsibility for your children. This means that the god-parents you have elected may not be chosen.
One of the most common misconceptions is that my partner will get everything. Someone tied in with Tip 1, an unmarried partner won’t inherit under the laws of intestacy so if you are not married but want your partner to inherit, write a Will. Finally, if you are married but wrote your Will prior to marriage then it may have been revoked. Marriage revokes a Will unless there is a specific clause drafted in which means the Will is being written in contemplation of marriage. Again, we are happy to cast an eye of your Will to check it for you FREE of charge.
Sara at SLS has over 30 years experience in estate planning and has worked in a number of law firms prior to setting up SLS Wills and More. She is full TEP (STEP Qualified), an Associate member of the Society of Will Writer and sits on their Professional Standards Board. This means you can trust that she knows what she is doing.