Importance of writing a will highlighted
The fulfilment of specific wishes is just one of important advantages of leaving a will, silverhairs.com reports.
While a daunting prospect, some 70 per cent of people that died in the UK last year did not leave a will. This can result in family arguments, legal problems and reduced inheritance. It's something that many people put off, but should not.
The news site asserts that wills are crucial for those that want their estate to be managed by an executor that they trust, distributing as per the deceased's wishes. The alternative is a court-appointed administrator.
Without a will, the site adds, an estate is divided 'according to the laws of intestacy' and not reflective of the individual's preferences.
This will cause some beneficiaries to miss out. Leaving a will also allows individuals to be specific about where their money and possessions will go.
This might include setting up a trust, bequeathing a beloved pet or donating to charity. Without legal instructions, none of these wishes will necessarily be carried out.
While it is possible to write a will without assistance, says myfinances.co.uk, it is advisable to use the expertise of a solicitor or will-writing service, to prevent any mistakes being made that could render the document invalid.
Once written, a will should naturally be kept up-to-date and in a safe place. Executors should be advised of its whereabouts to minimise any legal delays.