News5 Reasons To Create Your Will Today

October 14, 2024

Did you know that over half of UK adults (51%) have not made a Will?

Wills are something that many of us put off until it’s too late, which could leave loved ones unprotected if you die unexpectedly.

So why is it so important to make a Will? Let’s dive into the 5 biggest reasons to do so:

  1. Making sure that your loved ones are protected

Making a Will means you can ensure that your children and loved-ones can be provided for after you are gone. If you have children or grandchildren who are under 18, you can specify in your Will who you would like to be their guardian when you pass away, this is especially important for single-parent families.

If you are unmarried, your assets will not automatically pass to your partner, so it is important that, if you would like your assets to pass to your partner, that you state this in your Will.

  1. Have your say

Creating a Will allows you to have your say in the specific division of your assets, which allows you to make sure significant possessions go to the people who need them most or would be best suited to inheriting them.

For instance, if you have some very wealthy relatives, you may decide against prioritising giving them significant sums of money, in favour of relatives who may need the money more or that you have a closer relationship with.

If you die without a Will in place, this may not be the case.

  1. Help manage Inheritance Tax

If anything within your estate (your overall assets and wealth) is valued over £325,000 you may be liable to pay inheritance tax so making arrangements within your will can manage and possibly lessen the amount of tax your beneficiaries are liable to pay and help retain more of their inheritance after you die.

  1. Ease the burden on your next of kin

When a loved one passes away it is never an easy time, but managing the affairs of a departed relative is much harder without a Will to guide them. Having a Will in place helps make things much smoother for your family, to help make a difficult time potentially much easier for those you leave behind.

  1. Make funeral wishes clear

How you imagine your funeral is rarely top of the list when it comes to conversation starters, but through making your Will you can specify your funeral wishes and make sure that you are mourned and your loved ones can celebrate your life in the way you would like them to.

You can also specify whether you would like to be buried or cremated, plus if you would like a specific religious service for your funeral.

Time to sort out your Will?

Creating your Will is the best way to protect your family and loved ones, ensuring that you are prepared for the future.

Ready to get started? Find out more about how our experienced will writing experts can help you write your will today:

Our Website: https://www.dunnandbaker.co.uk/wills-and-probate/

Exeter 01392 285000

Cullompton 01884 33818

Exeter Solicitors

21/22 Southernhay East, Exeter, Devon EX1 1QQ
Tel: 01392 285 000
Fax: 01392 285 001
DX - 8311 EXETER

Cullompton Solicitors

38 High Street, Cullompton, Devon EX15 1AE
Tel: 01884 338 18
Fax: 01884 323 56
DX - 49600 CULLOMPTON

Dunn & Baker Solicitors and QualitySolicitors Dunn & Baker are trading names of Dunn & Baker LLP which is a limited liability partnership registered in England and Wales. Registration number: OC386610. Registered Office: 21 Southernhay East, Exeter, Devon EX1 1QQ. A list of members is available at the registered office. Any reference to a partner of Dunn & Baker LLP include members of Dunn & Baker LLP and authorised persons of equivalent standing. Dunn & Baker LLP is part of QualitySolicitors, the largest network of law firms in the UK, with local law firms spanning the whole of England and Wales and customer service at the heart of everything we do.