What is the purpose of a will?

by | Jun 16, 2023 | Lawyers

As you go through life, you will acquire possessions and responsibilities. If you are married or if you have people that depend on you for their livelihood, you will need to ensure that they are financially protected after your death. Your money and any property and possessions that you have accumulated during your life will also need to be allocated. Drawing up a will in Caversham will allow you to make certain that protection is in place for your family, and that there is no confusion as to how your worldly goods should be distributed. Too often a person dies intestate or doesn’t leave clear instructions and this causes division and unhappiness amongst the heirs. This is hardly what you would want for your loved ones when they are also probably coping with their grief.

How to go about drawing up wills in Caversham

A will doesn’t have to be a highly complicated document – unless you are a billionaire with assets across many continents – but it still needs to be legally correct. This is why it’s always advisable to consult with an attorney who will be able to assist you and to ensure that everything is legally in order. For example, many couples live together without ever marrying, and sometimes this creates problems if you die intestate. In this situation, your unmarried partner might have to go to court to obtain what is probably legally due. There are other issues that you need to be aware of such as appointing an executor who will ensure that your wishes are appropriately carried out.

Having a legal will provides protection

Many people who consult with a solicitor to draw up a will also lodge their wills with the firm so that it can always be found by the dependants. On a person’s death, there is a period of probate which is when the requirements of the will are carried out, and this is why it’s a good idea to have a professional third party handle all these affairs. Having a will also means that inheritance tax is minimised – if you die intestate, this tax is often higher.

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