Why make a will? – Information and advice
Why make a will? Many ask themselves this question, because
while we are always told a will is vital, it's rarely explained
why. So, why make a will?
First of all, depending on your financial situation and whether
you have children, it is not necessarily the case that your spouse
will inherit your entire estate after your death if you don't
specify this in a will.
And, if you are not married to your partner - even if you live
together in a "common-law marriage" - your relationship has no
legal status in this matter and there is no guarantee they will
inherit anything from you.
A will can also ensure who becomes the legal guardian of your
children if this should become necessary, and enable you to grant
gifts to specific people or leave money to a charity. And, if put
together properly, a will can reduce the amount of inheritance tax
your beneficiaries have to pay.
For more information explaining why make a will, we have a free
Wills guide available.
Claims Financial