Thinking about what happens after you die isn’t a very pleasant prospect, so it’s no wonder that many people put off preparing for what should happen to their assets after death. In fact, more than two thirds of people in the UK don’t have a will. It’s increasingly common for people to die without leaving a will, which can lead to a great deal of heartache and stress for their family, as disputes can surface about who their assets should pass to.
This can be avoided by making a will. Wills are legal declarations about how you wish to dispose of any property or assets you own when you die. In a will, you can name individuals who you want to receive any money, property, belongings, land or anything else of value you own. This means that when you die, your intentions are clear and can be carried out.
Anyone can make wills themselves, but it can be a good idea to seek professional advice and engage a solicitor to write up a will for you. This will ensure that your will properly reflects what you want, and more importantly, that it is valid. For example, a solicitor will ensure that your will is witnessed and signed by the correct number of people, who do not have a vested interest in the will’s contents. Making a mistake in a will could be costly and distressing for your beneficiaries, so it pays to use a professional service to ensure any wills are valid. A solicitor can also help you with changes to wills, inheritance tax planning and setting up trusts.