How a will can protect your future
There are many reasons why people should have a will in place. Of course, there are just as many explanations people give as to why they haven’t decided to make one. Partly because of a lack of clear information, people are reluctant to revise their wills when something in their life changes, whether financially or personally, in light of changes in their financial situation or personal, let alone quick to prepare a Will in the first place.
Reflecting on the potential consequences of not having an up-to-date will, Chris Stone, attorney with Jackson Lees’ Wills, Trusts and Probate team, explains where you stand if you don’t have a will in place.
Many people mistakenly assume what would happen to their estate if they were to die without having a will in place. Whether that’s assuming immediate family will inherit automatically, even without a will, or not using a trust to care for beneficiaries after you die, there are certain assumptions that can impact your future and that of your loved ones.
The truth is, if you die without a valid will, the intestate inheritance rules will apply and indicate how your estate is to be divided upon your death. The rules of inheritance do not always suit your personal situation, especially at a time when different and more complex family structures exist. Having a will in place ensures that your estate goes where you want it to go and gives you an element of control and certainty.
Your will may appoint executors to administer your estate. In its simplest terms, the role of the executor is to collect your assets, pay off your debts, and distribute your estate according to the terms of your will. If you do not have a valid will, who can administer your estate will be determined by the rules of intestate succession, and this may not always be the most appropriate person.
Your will may also include donations of specific items or charitable donations that otherwise would not be made if you did not have a valid will. Having a will can also allow you to include an appropriate provision for caring for beneficiaries by including a trust and ensuring that their rights are protected in circumstances where it may not be appropriate to leave them a gift or share. of your estate. Alternatively, you may want to strike a balance between providing for your spouse or civil partner, but ultimately ensuring that your estate passes to your children and proper reliance on your will might.
Whatever your situation, our team dedicated to wills and estates can give you an initial consultation to establish your situation and find the right solution for you so that you know where you stand.
If you would like to speak to one of our empathetic specialist advisers, you can call us free of charge on 0808 302 3464 (also free to call from mobiles) or by email [email protected] Alternately, visit our website www.jacksonlees.co.uk
At Jackson Lees, we understand that one of the most important things we can do is plan for our own future to make sure we protect the future of those we love after we leave. We will provide you with expert, professional and sensitive legal advice, helping you to deal with a wide range of issues including: drafting your will, managing estates, planning inheritance rights, creating and administering trusts, and making a lasting power of attorney.
What Jackson Lees can do for you …
- We offer free half-hour appointments for anyone who wants to know more about our services
- Three local offices to choose from:
- Hoylake 0151 909 3204,
- Heswall 0151 909 3201,
- Liverpool 0151 909 3147
- We also offer assistance in the event of an inheritance dispute.
- We provide safe and free storage of any will
- We can register your will in Certainty’s National Will Database
Let Jackson Lees make things a little easier for you and your family. Contact our Wills, Trusts & Probate team to make an appointment or discuss your needs. Call us free of charge from a mobile or landline on 0808 302 3464.