Making a Will
A will is a document that stipulates all your wishes on the distribution of your property when you die. You need to have a proper will, especially if you have children or people who look up to you. When preparing a will, it’s normal to feel overwhelmed. There are plenty of concepts and will type to consider when planning on making a will. However, the easiest process is taking one step at a time.
However, if you the process of to writing a will is overwhelming or you simply don’t have the time, don’t worry; you can acquire the help of a solicitor. A solicitor is a professional who will be able to ensure that the will is always straightforward and developed precisely to your wishes. Redkite Solicitors in Cardiff provide a wide range of legal services, including wills and probate. Enlisting the services of such a reputable legal firm guarantees that you don’t end up making any mistakes and that none of your hard-earned finances or personal belongings up end in the wrong hands.
Reasons for Having a Will
A will decides everything that will happen to your estate and property after your death. If you don’t have a will, you get to leave all your important decisions up to your local court. You never get to have a say in who obtains your assets and properties. Here are additional reasons why you should consider making a will.
As a parent, you can indicate who will be the guardian to your minor children in your will. You should work this out with your partner to avoid anything happening to your kids in case of your death. However, if one parent passes, the surviving parent always gets sole custody of the kids.
Picking a guardian enables you to find someone willing to take responsibility for all your kids’ daily needs and education needs as well. More so, if you don’t end up picking a guardian, the court will end up picking one for you, which means that your kids might end up with someone who you haven’t chosen.
Manage Your Estate
Deciding who will manage your estate is another reason why you need a will. Without a will, your estate will end up in probate court. Here, the court will commence the legal process to oversee the distribution of all your assets. At times, the court can name a single person to administer the estate. Having a will negates the complications of the court by ensuring that you streamline the entire process.
Furthermore, it saves your loved one’s time and money because it can be strenuous. Having a will enables you to pick someone to handle the estate. This makes it easier for everyone since they all know of their responsibilities.
Avoid Family Disputes
If your family has complicated dynamics, you will always need to have a will. If you die without one, your family will guess what you would have wanted for them to do and acquire. In most cases, they will be wrong, thus leading to unnecessary disputes and misunderstanding. The ambiguity can bring forth friction that can result in hatred and fights that could last a lifetime.
How to Make a Will
Making a will helps you indicate all your wishes. Therefore, you will have to list your assets and determine how you would like them shared among your loved ones. If you want to donate all or part of your estate to charity, you will be able to indicate everything in the will.
Choose an Executor
An executor is a person who you would like to execute all the instructions in your will. You should choose them carefully to ensure that they are trustworthy and willing to undertake all the responsibilities. Therefore, consider asking them before you begin writing your will.
Choose a Guardian
If you have underage children, you need to pick a guardian for when the unthinkable happens, and you end up dying together with your partner. Find someone that your kids trust and someone willing to take care of them in case of such a scenario. Likewise, ensure that the guardian does embody all your values.
Make Frequent Updates
In case you need to revise the will, don’t hesitate to make any changes. Update it every few years to ensure that it’s recent and include every bit of your estate. A recent survey found that due to the Covid-19 outbreak, more people who previously had not written a will have taken the decision to formulate one. Likewise, if you’ve gotten more kids or new people into your life, you might consider adding them to your will.
Always be Specific
Being specific is the only way of avoiding disputes after your demise. In case of any special wishes, ensure that you list everything about how your estate will be shared. For example, list specific cash amount figures as you would like shared among your family members. Likewise, when leaving a part of your estate to charity, you should list down all the names of the charity to avoid confusion and disputes.
Will Kit vs Solicitor
Writing a will has been made easy nowadays with the emergence of online and paper DIY will kits. These kits are ideal for anyone who would like to write a will. Attaining this kit requires you to remember all the specifics, thus eliminating any issues after your demise.