Everyone should make a Will and update it regularly, particularly if family circumstances change, for example if you marry, have children, separate or divorce.
The main reason is so that you can ensure that the people you wish to benefit after your death receive your property and possessions. You can provide for your friends or favourite charities, even your pets.
If you die without leaving a Will the intestacy rules determine who will inherit your estate. For example, even if you are married with children your surviving spouse will not necessarily inherit all of your estate but may only receive part of it and will have a life interest in the remainder. People you may not have considered may have a claim and this can cause serious problems and complications in the event of your death.
Unmarried partners cannot inherit from each other unless there is a Will. The death of one partner could therefore create serious financial problems for the survivor. Without a Will, the surviving partner is not their next of kin, and may receive nothing at all from their estate.
If you have children you need to decide who would look after them if either one or both parents die and also who would look after the money until such time as the children are old enough to look after it themselves.
It is not as expensive as you might think to put this important safeguard in place; the cost of a straightforward single Will is £150.00 plus VAT and for two similar Wills for a couple the cost is £250.00 plus VAT, for both Wills.
For more complex joint Wills, we will agree a fixed fee with you after a free initial consultation.
If you would like to discuss making a new Will or review your existing Will then please contact our Private Client Department on 01977 602999 or email us on privateclient@moxon-barker.co.uk who will be able to give any further advice or information that you need and then arrange for the work to be done for you.