Why Does An Up To Date Will Matter? 01 February 2019
Writing a Will is one of the most important things you will do in your lifetime as it enables you to express and have your wishes carried out on your behalf after you die - and keeping your Will up to date means keeping your wishes relevant to any changes in your life.
By writing a Will and then keeping it up to date, you decide how your estate is distributed when you die. This means you can ensure that all your assets pass down to future generations and that you look after loved ones long after you have gone.
Why a Will Matters
Having a Will is so important, as without one your estate - that is, everything you own - is distributed according to the rules of intestacy which can mean loved ones miss out. Wills are particularly important for unmarried couples as a surviving partner will not automatically inherit your estate - and the same is true for step-children and friends, who also don't have a legal entitlement to your estate.
Within your Will, you decide who your executors are. An executor is legally responsible for carrying out your wishes for your estate. You can also appoint a guardian for any of your young children and express any specific gifts for loved ones or charities, as well as state how the rest of your estate is to be distributed and any funeral wishes you may have.
A Will gives you control of everything you have worked hard for in your lifetime and enables you to take good care of loved ones when you are no longer here to do so yourself.
Why an Up To Date Will matters
Your Will should express your wishes, which is why it is important you update it when anything significant happens. Significant events include having children, getting married or divorced, or an executor, guardian or beneficiary dying in your lifetime.
Where to Store your Will?
A Will is an important document and should be kept somewhere safe. It's a good idea to keep your Will with the solicitor who wrote the Will for you - usually a solicitor will store the original Will free of charge and give you a copy but ask your solicitor to be sure. Most solicitors will store a Will they didn't write but will probably ask a fee for this service.
As solicitors are regulated, if a Will is lost or damaged, you have the option to fix matters.
When you have decided where to keep your Will - both the original and copy - make sure you write this information down and that your executors know how to get to it when needed.
By writing and updating your Will, you can look after your loved ones long into the future.
To speak to one of our specialist Wills and Probate solicitors about making or reviewing a Will, please contact us at our Failsworth office on 0161 681 4005 or at our Chorlton office on 0161 860 7123 or email email@example.com