Why Making Will Is A Wise Decision?

Making a will is not just a legal decision. It also involves emotional decision-making. When you possess something which you have responsibly inherited or which you have earned with your hard work, you want it to go to the trustworthy people. Though the decision is emotional, making a will needs a great eye for details with accurateness.

Making Will in simple words

A will is a legal document you create which lists the clear instructions for who will inherit your property, who will take care of your children when you die, the kind of funeral you would like to have, etc.

Who can make a will?

Every adult should make his or her will on time. One of the many reasons for making a will is to make sure the people you care about get the fair share of your possessions. There are many will writing solicitors in London who can help you to frame your will which is legally valid and strong. They can explain to you every aspect of making a will efficiently.

Making Will Is A Wise Decision
Making Will Is A Wise Decision

Major reasons for making a will

When you don’t consult one of the will and probate solicitors on time, you fail to put your children in an environment you want them to grow in, you lose the chance to secure the future of your spouse and you lose the decision of distributing your well-established estate in reliable hands.

Be your own decision-maker

If you’re from London then you should contact an expert will be writing solicitor in London who can be your guide on how an intestacy law works because when you die without making a will, your property will be divided by the intestacy law. The rules in this law determine how your assets will be distributed in a lawful order and it can also leave behind the ones whom you want to inherit your property. Especially, unmarried partners will not inherit anything.

Appoint a guardian for your children

If you have minor children, you should make a will in which you can designate guardians for them. Because if you don’t, the court will decide after your death about who should take care of them. You can appoint co-guardians, a married couple, a family member or even a friend as your child’s guardian.

Ensure the financial security of your children

In addition to naming a guardian for your children, you can also plan to secure their future financially. For this you can put aside an amount for their education, to pay for their food and clothing, to ensure they pursue their hobbies, etc. You can make an arrangement in which they receive a particular amount at a set period. A trust can also be built to give instructions on how your children will receive the money and put a watch to see for what the money is used. If you leave the property in your child’s name, you need to arrange a property manager to manage it.

Appoint an executor to handle your assets

If you don’t name a personal representative of your own who can settle your debts and taxes, safeguard your assets and divide them according to your wish in the will, the court will appoint someone to do this according to the law. A proficient will and probate solicitor will define to you all your rights of appointing an executor.

Making Will Is A Wise Decision
Making Will Is A Wise Decision

To appoint a caretaker for your pet

You can give your pet a good life by leaving money to the caretaker as resources to nurture him or her well after you’re gone. Pet Trust is also an excellent option. With this option, you can leave money for your pet and also a legal obligation to look after him or her with a trust document. There are expert solicitors in London who can help you with all the formal legalities of a pet trust.

To protect your unmarried partner

It doesn’t matter for how long you have been with your partner, she or he is not entitled to anything from your assets. The only way to do this is to name them in your will with a share.

To keep your family together

To keep your family from falling apart, a will is very important because as soon as you are gone they will start contesting for their share and it will damage the relationships. A legally prepared will with assistance from a professional will and probate solicitors can avoid the dispute of a legally-contested will.

You never know when the worst comes up. You have to be prepared before you lose control over what you have and what you can do for your loved ones. To draft your will legally, take the aid of professional solicitors in London who are familiar with the laws in the London jurisdiction.