Top 10 reasons for making a Will
Everyone can benefit from writing a Will.
Many people feel like they don't need to make a Will. Perhaps they think they're too young, or that they don't have much to leave after they're gone. Others have it on their to-do list, but think they'll get around to it at some stage. Some people feel too daunted by the process and don't know where to begin.
While these are all common reasons, the fact is that a Will helps to protect your loved ones and ensure that your wishes are honoured after your death.
It might seem like something that can wait, but the sooner you create a Will, the sooner you'll know that your family and friends will be looked after when you're gone.
There are a lot of benefits to writing a Will. Below, you can find our top 10 reasons for doing it today.
Gifts in Wills help us to support five in ten of our blind veterans. We need this funding to continue supporting our beneficiaries.
10 reasons to write a Will
1. Provide for your loved ones
A Will ensures that your money and assets go to the people who matter most to you after your death.
2. Reduce the chances of dispute
One of the best reasons to make a Will is that you are in charge of what happens to your estate. Outlining your wishes in a legally binding document means there is less chance of a dispute between your family and friends over your estate.
3. Protect your partner if you're not married
If you and your partner aren't married or in a civil partnership they have no right to inherit your estate after you die, unless you leave it to them in your Will.
4. Decide who will look after your children
You can specify who you would like to take care of your children after you're gone. Without a Will, the court will choose your children's carers from family members or state-appointed guardians.
5. Don’t pay more inheritance tax than you need to
Writing a Will can help to reduce the amount of inheritance tax that has to be paid on your estate.
Leaving a gift to charity in your Will may reduce the amount of inheritance tax you have to pay.
See the government’s inheritance tax guidance for more information on tax exemptions and conditions.
6. Change your Will as life changes
Just because you choose to make a Will at a certain time of your life doesn't mean that you are tied to it forever. As life changes with major events such as marriage, divorce, the birth of a child or the purchase of a property, you can change your Will to suit your new circumstances.
7. Protect your pets
You can use your Will to make provisions for your pets after you're gone, including choosing a guardian for them.
8. Safeguard the family home
You may have specific wishes for who should inherit your home after your death. Stating this on your Will can help to avoid disputes between family members over the property.
9. Be prepared for the future
Many people don't want to write a Will because they're unwilling or unable to deal with the prospect of dying. While this is undoubtedly a terrifying thought, planning for the worst-case scenario can bring some reassurance. Writing a Will means that you know your loved ones will be taken care of if something were to happen to you. A Will can provide clarity and comfort during a very difficult time. It's never too early, or too late, to write a Will.
10. Leave money to charity
Once you have provided for your loved ones, you can use your Will to donate money to causes that are close to your heart. Your generosity can live on through you if you leave a gift to a charity such as Blind Veterans UK in your Will.