Why Do I Need a Will?

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Creating a Will is one of the most important steps you can take to ensure your wishes are carried out after you pass away. It provides peace of mind that your assets will be distributed as you intend, and that your loved ones will be cared for in accordance with your instructions.

Some people put off making a Will, believing it is only necessary later in life or assuming their estate will automatically go to the right people. Unfortunately, without a valid Will in place, the law decides who will inherit your estate, and this may not reflect your personal wishes.

In this blog, we explain why having a Will is important, when you should consider making one, and how to go about creating a legally valid Will. Please note that this blog is for information purposes only and should not be taken as legal advice.

Why do you need a Will?

Having a Will ensures your assets are distributed according to your wishes after your death. Without a Will, the law decides who inherits, which may not reflect your preferences or protect loved ones, such as unmarried partners or stepchildren.

A Will can also name guardians for your children, reduce inheritance tax liabilities, and simplify the probate process. It provides clarity and can help prevent disputes among family members. Ultimately, a Will offers peace of mind, knowing your estate will be handled as you intend, protecting those you care about and securing their future.

Key benefits of making a Will

A well-drafted Will can have many benefits for you and your loved ones and help reduce stress and tension at what is already a difficult time.

Some of the key benefits of having a Will include:

Ensuring your estate is distributed in line with your wishes, including deciding who inherits your money, property and possessions.
Providing for your loved ones and ensuring they receive what you intend. If you die intestate, some of your loved ones may not receive what you would have given them.
Appointing guardians for vulnerable dependents or children to ensure they are taken care of.
Reducing inheritance tax by planning your estate to minimise tax liabilities.
Reducing the chances of disputes between your loved ones.
Making the probate process quicker and more straightforward, reducing stress for your executors.
Making any personal wishes known for specific family members or funeral arrangements.

Avoiding the risks of intestacy

There are several risks involved in dying without a Will, known as intestacy:

Your assets may go to unintended beneficiaries, while those you would have chosen may not receive anything.
The lack of clear instructions can cause legal disputes and tension among your loved ones.
The probate process under intestacy can be slower and more complex, causing delays.
The beneficiaries of your estate may face higher inheritance tax due to the lack of planning.
The court will be left to decide provisions for your children or any vulnerable dependents.
Your assets will not be donated to any charities or causes under intestacy.

Protecting your family and loved ones

Drafting a Will plays an important role in protecting your family and loved ones, ensuring they are provided for in the event you are no longer here.

A well-drafted Will can reduce the risk of disputes or legal complications and ensure your loved ones are provided for.

Having a legally binding and unambiguous Will in place can also make the probate process a lot smoother and more straightforward during an emotional and challenging time.

Deciding guardianship for minor children

A Will allows you to legally appoint guardians for your minor children, ensuring they are cared for by someone you trust if you pass away.

Without a Will, the court decides who takes on this role, which may not align with your wishes.

Naming a guardian in your Will provides clarity, reduces uncertainty, and avoids potential disputes among family members. It also gives you the opportunity to explain your choice and outline any specific values or guidance you want the guardian to follow.

Planning your estate efficiently

A Will is an essential tool for planning your estate efficiently because it clearly states how your assets should be distributed, helping to prevent confusion and delays after your death. By specifying who inherits what, you can ensure your wishes are followed exactly.

Planning out your Will in advance also gives you the opportunity to reduce the inheritance tax that will be payable on your estate, ensuring your loved ones receive the maximum benefit possible.

How to ensure your Will is legally valid

To ensure your Will is legally valid in the UK, you must follow certain rules. It needs to be in writing and signed by you, the testator, in the presence of two independent witnesses who also sign it.

These witnesses must be adults and cannot be beneficiaries or married to beneficiaries in the Will.

You should be of sound mind, understanding the implications of the Will when you make it.

It is also important to keep your Will safe and update it regularly to reflect any major life changes. Seeking legal advice can help ensure all requirements are met properly.

Why choose Devonalds Solicitors to write your Will?

Making a valid Will is one of the most important steps you can take to protect your loved ones and ensure your wishes are carried out.

If you are unsure about how to draft your Will, what to include, or how best to divide your estate, our Wills and Inheritance Quality Scheme accredited solicitors can support you with clear, tailored advice.

At Devonalds, we have many years of experience helping our clients draft bespoke Wills. We understand that thinking about the future can be daunting, but we are here to make the process as simple and stress-free as possible. Our solicitors are accredited by the Wills and Inheritance Quality Scheme and will ensure your Will is clear and legally binding.

If your circumstances change, such as buying a home, a new addition to the family, or a change in your wishes, we will be on hand to update your Will so it continues to reflect your current circumstances.

If you would like to discuss drafting or updating a Will, please get in touch with our specialist solicitors.

Speak to our Wills and probate solicitors

If you need any help with any part of the probate process, contact your local Devonalds office at Bridgend, Caerphilly, Church Village, Tylorstown, Tonypandy, Talbot Green, Treorchy or Pontypridd to talk to one of our expert South Wales probate solicitors today.

You can call us on 01443 779050 or use our simple contact form and we will get back to you as soon as possible.