What is a Will?
Making a will is simply arranging what will happen to the things you own when you die. If you have children, it also ensures they will be cared for by the people you choose. Making a will is positive because it is a way for you to protect and benefit the people you love.
A will is always for an individual who is over 18 and of sound mind. It is made up of several parts:
- Who is making the will (you)
- The people who will make sure your wishes are carried out
- The people or organisations who will receive a share of your assets
- If you have children, the people you nominate to care for them
When you make your will, you’ll need to be clear about all your assets so that you can say who you would like to leave them to. This often involves sorting through a mountain of papers – a task few of us relish. We can help. At Haven Asset Management, we’ve been helping people organise their affairs and simplify their paperwork for more than 20 years.
Why you should make a will
If you die without leaving a valid will you’ll have died intestate (please see The Rules of Intestacy for more information). This means that certain rules dictate how your assets are distributed which could mean those closest to you receive nothing. It also means that young children become wards of court. When this happens, it can be a long and complicated process to transfer their care to the people you would have chosen.
Many people think that a signed piece of paper constitutes a will. It doesn’t. Although you don’t need to go to a solicitor to make your will, for it to be valid it must be completed in the right way. We can help you write a valid will that correctly sets out your wishes.
Take care of the ones you love
So the benefits of making a will are clear:
- You can leave the people you love a share in your assets
- You can protect your children, even after your death
- You can make sure your family don’t face a complicated legal process