Why You Need a Will and How Professional Services Can Help

If you have not yet written a will, you are far from alone. According to a study by IRN Legal Reports, only 35% of adults have written a will, even though most believe estate planning to be important.

One of the most common reasons that people give for not writing a will is a lack of assets, but this is not the only benefit of will writing.

Here are the top 5 reasons why you should write a will as soon as possible. Plus, how you can make this process much easier with the help of a professional.

1. To save time and stress for your loved ones

If you die and you have not made a will, your loved ones will have a much harder time on their hands. In most cases, they will have to go to probate court, which can be a lengthy and stressful process.

However, if you do write a will expressing your wishes, the process of dividing your estate is a lot simpler.

2. To determine who will manage your estate

Within your will, you should include who you want to manage your affairs when you die. This is an important job that includes closing bank accounts, liquidating assets, and even arranging your funeral.

If you do not nominate someone to do this, the courts will choose one for you, which may not be who you want.

3. To decide who inherits your assets and property

The driving reason for writing a will for most people is to ensure that your assets and property are given to the people you want to have them. If you die without writing a will, this decision will be left to the court to decide.

You can also use a will to prevent certain people from having any right to your assets, which not everyone is aware of.

4. To choose who will take care of your dependents

If you have children or pets dependent on you and want to make provisions for them when you are no longer around, this needs to be included in your will. Typically, the surviving parent will get sole legal custody if one parent dies, but if both parents die, it can get a little more complicated.

You can also name a beneficiary for any pets you own in your will, ensuring they are cared for in the way you wish.

5. To support your favorite causes and leave a legacy

Lastly, if you want to positively impact the world, you may leave some of your assets to a charitable organisation. When you write a will, you can preserve your legacy by leaving part of your estate to a charity of your choice.

You should also know that some charities offer will writing services. For example, Macmillan’s online will service which is free of charge and available to all.

Why use a professional will writing service?

Although you can legally write your own will, there are several reasons why it makes sense to enlist the services of a professional:

• Access to expertise and experience
• Adherence to strict regulations
• Indemnity insurance for additional protection
• More tax efficiency
• Free will storage
• Affordability