Recovering Commercial Debts
Commercial debt recovery can be daunting at times. Having a […]
Do you need a Will ?
The simple answer is Yes !
A Will lets you decide what happens to your property, money and belongings when you die. You get to choose who you want to benefit. Without a Will the law decides who inherits what you own and this might not be exactly as you had hoped or planned.
If you have a partner and are not married or in a civil partnership then they will not automatically get anything from your estate when you die. If you want your partner to receive your property or a share of your assets when you die then you must give provision for them in a Will.
If you have any children that may still be under the age of 18 when you die then you may also need to name someone as their legal guardian to care for them and also manage their financial affairs.
You may also wish to make arrangements to provide for your children financially, for example by setting up a trust fund that they can access when they get older.
You should consider reviewing and updating your Will on a regular basis. For example, getting married, entering a civil partnership or getting divorced automatically cancels a Will.
Making your own Will without legal assistance can lead to mistakes and potentially could mean that your Will is invalid.