Stepping Stone Wills
  • Why Should I Make a Will?
  • Make a Will in Sleaford
  • Making a Will in Lincolnshire
  • Make a Will in Lincoln

Why Should I Make a Will?

Many of us aren't very good at talking about death, so it's not surprising that over 70% of us risk leaving our nearest and dearest with a lot of hassle and confusion by not making a Will. Most of us, at some time in our lives consider putting their affairs in order, but we never quite manage it and no further action is taken. There are of course the normal excuses of 'we're too busy', or 'I don't plan on dying just yet!'

But many people put off making a Will simply because they are aware of the severe consequences to their family if anything was to happen to them. They just assumed that everything would be OK.

However, if you care about your family and care about who inherits your estate, and you do want everything to be 'OK', then you need an up to date professionally drafted Will.

A will lets you leave clear, concise and definitive instructions about how your estate is to be distributed. Without leaving a will, your estate will subject to the intestacy rules and your estate may not go to the people you would have chosen, had you made a will.

A will lets you choose your own executors (The people legally allowed to deal with a deceased person's estate) If you die without leaving a will, your closest relatives will need to apply for 'letters of administration'.

Leaving a will allows you to make financial arrangements for the benefit of your children. It will also allow you to appoint guardians to look after your children if they are under 18, until they come of age.

A will allows you to leave specific bequests to named individuals. These bequests can range from sums of cash to items such as jewellery.

If you have divorced and remarried, leaving a will can ensure that any children from your first marriage will get a share of your estate.

It is vitally important to make a will in favour of an unmarried partner. Without leaving a will, they may not receive anything from your estate.

Without leaving a will, your estate would be divided according to the intestacy rules. Therefore, your spouse or civil partner may not receive as much as you would have intended them to.

If you die without leaving a will and have no spouse or children, under the laws of intestacy, your parents or siblings may inherit your estate. This would be the case, even if you'd prefer that your estate were to go elsewhere. It's very common place that in the absence of a will family disputes may arise. A will is a very valuable tool in effectively mitigating the effects of inheritance tax. Without leaving a will, your family could face a larger inheritance tax bill than necessary.

Amending an Existing Will

If you already have a Will, it is recommended that you review it every few years. Sometimes your wishes may not have changed, but the value of your assets and the law may have. As such it is very important to ensure that your Will does exactly what you want it to do and that it protects your assets and investments. It may also be that you wish to change your choice of executors, or that your existing Will does not provide a "fall back" situation should beneficiaries predecease you.

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