Why write a Will

Common situations that call for a Will to be drawn up or amended

Are you a Homeowner?
If you are a homeowner (Even if there’s a mortgage outstanding) you should be protecting your property against care costs later in life. A property trust written in your Will can protect your share against being used to pay for care costs for your partner or spouse.

In addition, if anything should happen to you then your share of the house will be inherited by your children or named beneficiaries.

Is the property in joint names?
If the property is in joint names then you should be considering a property trust as mentioned above. If it is in your name only then what do you want to happen to the property if anything should happen to you? If you intend not to leave the property to your partner but to someone else then your partner could be forced to leave the property if anything happens to you, however a Will can create a life interest in the property for your partner so that they can live in the property so long as they wish but they never actually get to own it.

Are you married or in a partnership?
If you are married you may assume that you leave everything to your spouse but if you don’t have a Will then this may not be the case. If you are in a partnership then it is almost certain that your partner will inherit very little. A Will can resolve this problem so that you spouse or partner can inherit your estate as you so wish.

Do you have children less than 18 years of age?
If you do, then you can appoint guardians for them in your Will. If you don’t have a Will or have not appointed guardians then the authority on who will look after your children falls to the Social Services should anything happen to you. This could include allocating them to foster-parents.

Are any of your dependents disabled?
If any of your independents are disabled then a Will can create a trust that will protect them in the future and ensure that they continue to receive the maximum benefit from the local services whilst maintaining their inheritance for their benefit.

Do you have any personal belongings that you wish to leave to a particular person?
Any personal mementos or gifts of money to grandchildren or charities can be accommodated in a Will through a legacy thus ensuring your wishes are carries out.

Do you own your own business?
Provision can be made in a Will with regards to your business so that you can ensure that it is left in capable hands, this can be your spouse, partner or business partner.