November 2007

Write a Will

Here are 5 reasons why you should have a will written.

1) If you die without a will (known as dying “intestate”), there are certain rules which dictate how your money, property or possessions should be disposed of. This may not be the way that you would wish your money and possessions to be distributed.

2) Unmarried couples or partners who have not entered into a civil partnership cannot inherit from each other unless there is a will, so if one of the couple was to die, the other could be left in serious financial difficulties.

3) If you have children, you will need to make a will so that arrangements for the children can be made if either one or both parents die.

4) It could be possible to reduce the amount of inheritance you have to pay to the taxman by using a will.

5) If your circumstances have changed, it is important that you make a will to ensure that your money and possessions are distributed according to your wishes. If you are married or enter into a civil partnership, this will make any previous will you have made invalid.