Making a Will is very important and often forgotten. The best way to tell you this is to tell what happens when you die and you don’t have a last will and testament.
When you don’t have a will, then you die intestate. This means the government will decide what happens to your possessions. This can mean your partner does not get everything as the laws of intestate does not pass anything to them if you are not married and when you are married then they still may not get all of it.
There is also the cost that are involved as the solicitor will have to follow the laws of intestate and do the relevant work which will cost your loved ones more money. There may be more cost involved if your partner is challenged with court proceedings to decide the outcome as you did not make a will.
Your partner may have a custody battle for the children if you current partner is not the current children’s natural parents.
Then there is the argument s that may incur with your sibling and other family members.
Now let’s look at the benefits of making a last will and testament.
- You decide what happens to your estate, who gets what.
- You can make gifts to charities.
- You can decide on your funeral arrangements.
- You can decide who get the children if your partner dies as well.
- You save your loved ones a lot of legal fees.
- You save your loved one any worries and uncertainty about the future.
- You save your loved ones arguments or bad will as the decisions have been make.
- You can disinherit someone from benefiting from your death.
Now you have to decide what you want to do.