Reasons for making a will
The financial cost to your family of not making a will
Dying without a will means that the state will take a proportionately large chunk of your assets and the legal profession will be equally well cared for, while your loved ones wait for a long time at the end of the queue.
Some people such as civil partners and step children can suffer more than average.
The emotional cost to your family of not making a will
Anyone who has lost a parent will tell you of the unexpectedly large sense of loss, even when they hadn't considered themselves especially close. Losing a parent without any form of goodbye, or acknowledgement can cause tremendous harm and can so easily be avoided by taking a few hours out of a lifetime to make a will.
Avoid lasting family disputes by making a will now
At a time when you are leaving your family, the last thing you want to do is drive a wedge between your children, but that is exactly what you will do if you don't make a will and decide exactly who gets what.
Your children cared for by strangers as a result of not making a will
If both parents die unexpectedly and there is no will stating who should care for the children, then the state will decide their future. If you want to protect them, then you need to make a will and appoint guardians.
Your future in the hands of complete strangers-making a will could resolve it easily
There are many illnesses that could cause you to lose your mental faculties as you get older and you would need someone to take care of your affairs. It could be just making sure your property is not misappropriated, or it could be serious decisions about your care.
In some cases people are kept in pain on life support for very long times because nobody can make the decision.
If you want to protect yourself and spouse from these problems, then make a will, appoint a lasting power of attorney and make some decisions about how you should be taken care of in such an event.
Your house taken and sold to pay for care, whether you like it or not
If you find yourself in need of permanent care, your house will probably be sold and used to pay for that care unless you have made provision to remove it from the equation through writing a will. Should you be deemed to have lost your mental powers sufficiently, this could all be forced upon you.
Poor tax planning gifts your assets to the state as a result of not making a will.
An experienced wills advisor can protect your home and assets from inheritance tax and preserve your estates for the benefit of your issue. Not making a will and not starting early enough are both likely to gift large amounts of money to the taxman.
Complications for second wives and husbands can be avoided by a well drafted will.
If you have been married previously and have children from more than one partner, there could be big complications and your wishes could well be ignored by the courts unless they are spelt out very carefully when making a will. Writing a will that make your wishes clear and is supervised by a professional can make all the difference. Wills are away of avoiding these issues and they are generally painless and inexpensive. Act now.
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