What will happen to my belongings when I die?
Why is it important to make a Will?
There are many reasons why it is important to make a Will, both financial and practical. Some of the most common reasons for making a Will are:
- You get to say who will be responsible for administering your estate (i.e. you can appoint Executors in your Will)
- If you do not make a Will the law will dictate who administers your estate and who receives all of your money, property and possessions. This may not be in accordance with your wishes – please see Who will inherit my estate if I do not leave a Will? for further information.
- If you make financial provision for children in your Will (even if they are not your own children) you can say who will be responsible for looking after the money for the children, until they reach a suitable age.
- You can appoint a guardian in your Will to ensure that your children are cared for should you die while they are still too young to look after themselves.
- If you are concerned about making provision for someone who is vulnerable, you can make provision for them in a way that provides them with protection.
- You can decide who will look after your pets if you have any.
- If you want to, you can include details of the type of funeral you would like. This can assist those arranging your funeral who may otherwise be unaware of your wishes.
- If inheritance tax is a consideration, you may be able to minimise the amount of inheritance tax payable on your death through careful planning in your Will
- Making a Will ensures that your wishes are clear and legally binding. This can help to minimise any disputes that may arise following your death.
Setting aside a little time to make your Will means you can legally arrange exactly what happens to all your belongings, property and money, and decide who gets all this once you are deceased. It also means less stress, upset and confusion for your loved ones once you are gone, knowing they will be looked after.
By making a Will with Williamsons, you can be assured that your questions will be answered by an experienced Will writer. At Williamsons we have years of experience of writing Wills and administering estates. Therefore the advice given to our clients includes the legal issues surrounding the making of a will, but we can also discuss the practical effect of your wishes with particular reference to how matters will actually be dealt with following your death.
Contact our Hull, Beverley, Bridlington or Driffield office and one of our Wills and Probate experts will be able to advise you.
Hull – 01482 323697
Beverley – 01482 881278
Bridlington – 01262 678128
Driffield – 01377 252022