Never got around to making a will? There are 10 good reasons why you should rectify that situation and seek reliable professional help with will writing right now...
1. To avoid intestacy and ensure that you have control over what happens to your money, possessions and property (your 'estate') after you die. For example, you may wish certain family members to receive specified amounts of money, property or possessions.
2. To appoint guardians for your dependent children and ensure they're looked after by people whom you choose. If you don't appoint guardians, the decision may be left to the family courts.
3. To ensure your dependent children are provided for financially after your death. For example, you might specify an amount of money to be used to finance their education or set up a trust to provide for them until they reach a certain age, for example 18.
4. To protect and make comprehensive provision for vulnerable or disabled dependents.
5. To name the executors who will be responsible for carrying out the instructions and provisions in your Will, and trustees who will adminster any trusts which are specified in the provisions of the Will.
6. To set up trusts which enable control and flexibility to be applied to future distributions of property, money or investments.
7. To plan an orderly distribution of wealth through the generations of a family and reduce the risk of disputes.
8. To avoid paying more tax than you need to, for example inheritance tax.
9. To leave a cash sum or other assets to a chosen charity.
10. To ensure the smooth transfer of your equity in a family business to a chosen family member or colleague.