Protect your loved ones – update your Will during Make Your Will Month
A Will is one of the most important documents that you’ll ever make. It is a legal document that sets out what you would like to happen to your assets following your death. These include your home, bank accounts, investments, and your possessions.
It can also set out your wishes in relation to your funeral and who you would like to be the guardians of your children, should you die whilst they are young. Also, writing a Will makes sorting out your affairs much clearer and easier for your family after your death, removing doubt and worry at a distressing time.
If you die without making a Will, you will have died intestate, meaning that if no relatives are found and you are not married, then your estate will go to the Crown. The estate will often not simply pass on to a spouse entirely, and if unmarried then there is a real danger of them being entitled to nothing.
We get asked often by clients what the point is for them to write a Will, because they feel they aren’t wealthy enough, or that it won’t make a difference. However, it is often (wrongly!) understood that you need to be wealthy to need a Will. However anyone with property, children, or money should have a Will, to ensure that their estate is properly managed upon their death. Therefore, almost all adults should have a Will in case something were to happen.
Writing a Will as part of Nottinghamshire Hospice’s Make a Will Month provides an excellent opportunity for people to stop putting off making a Will whilst supporting a vital cause, and we’re delighted to be doing our part.
Dawn White is an Associate Director at DBS Law, and runs the firm’s private client department from their Nottingham office at 40 The Ropewalk.