Why you should write a will with Swayne Johnson Solicitors North Wales
Have you ever thought about what if you died tomorrow? Although this may sound very morbid, unfortunately it is inevitably so we should all make things as easy for our loved ones on our passing by writing a will.
Things that need to be taken into consideration are your assets such as possessions and who do you want them to go to? How much money would you leave to people? Surely you want your loved ones to have some security after you die. Well if you pass away, and you don’t have a will, you have no say in what happens to your estate, possessions and money.
An example of this is if you are not married, or in a civil partnership with your partner, then they will not be entitled to any of your belongings, unless a will has been drawn up stating that she/he is entitled to such. In previous years if you died without a will then £200,000 of your estate would pass to your spouse, this has now increased to £450,000. What’s left of your estate is then split between your parents and spouse; if your parents have also passed away then it would instead pass to both your spouse and siblings. If you do have children then £250,000 is awarded to your spouse, with the remainder of the estate passing to the children. If assets exceed £250,000 then it is divided according to a formula. These new changes give the family more security than they previously had, but it’s still not as safe as writing a will, in which you can determine the exact amount of money or possessions that people will receive.
When organizing a will, it best to use a professional and well respected law firm such as Swayne Johnson Wills North Wales. This will ensure there are no mistakes and that everything goes according to plan. A badly written will with mistakes can cause a lot of problems during the allocation. When creating your will some of the most important factors to include are: money, property, possessions and who they are to go to, who is going to care for your children if they are under the age of 18? and if you have a business, what are your future plans for it, who will take over etc. Do not rush when creating your will, take your time and sleep on it before signing it.
