Add a little legal certainty to your New Year Resolutions
January is the time for making resolutions to give ourselves a fresh start for the New Year.
It’s good to take stock and decide to eat less or exercise more but there’s so much more we could be doing to improve our lives and protect ourselves for the future.
Here is the first New Year Resolution relating to the law that could be of great benefit to you and those who depend on you; making an up-to-date will. Part two talks about how a Lasting Power of Attorney could help protect your future.
Make sure you have an up-to-date will in place
Making a will is one the easiest and best things you can do to protect the interests of the people you care about.
It’s also the only way of ensuring that your wealth is passed on in the way you want.
Unfortunately, many people never get round to making a will, which means they are said to have died intestate.
If that is the case then their wishes will not be known and their estate will be divided in a way laid down by law. It means their money may not go to the people they would have chosen themselves.
If there is no will, children, grandchildren and even surviving spouses may have to take legal action to receive the inheritance to which they believe they are entitled. Every week in the courts there are cases involving families who are in dispute because someone dear to them failed to make a will.
If you already have a will then it is a good idea to make sure that it is up-to-date. If it was made several years ago it may no longer reflect your current circumstances, especially if you have divorced and remarried.
Many people do not like the thought of making a will and the associations that go with it but it’s the only way of ensuring that your estate is passed on according to your wishes.
Other’s think that they don’t need an up-to-date will because they think that it should be obvious that they no longer want half of their estate passing to their ex-partner but their current one instead. Wills do not update themselves to reflect changes in partners or spouses, or to reflect the birth of any children, so it is very important to make sure that you have an up-to-date will.
A solicitor can make the process quick and easy while ensuring that all the paperwork is carried out properly in accordance with the law.
If you have any queries about making a will or finding out whether your current will reflects your wishes, please contact us.