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THE IMPORTANCE OF HAVING A WILL

Written by: Keoghs Solicitors

Date: 8th September 2023

What are the key reasons for having a valid will?

• Control over who you would like to act as your Executors and who will manage your affairs and handle your estate in accordance with your will.

• Certainty as to who will be appointed as legal guardians for your children.

• Control and more certainty over who your money, property and possessions will be passed to.

• Financial security for your children and family members.

• Reduce inheritance tax liability, for example gifts to charities.

 

What happens when a person dies without leaving a will?

When a person dies without a will in England and Wales, they are known to have died intestate. Their estate is divided in accordance with the laws of intestacy.

This means that if you die without leaving a will, your money and property may be distributed in a way or to someone you wouldn’t have chosen.

This may cause issues to loved ones, especially for unmarried couples or long term cohabitees as they will not inherit anything from your estate unless you included them in a will.

 

If you have any questions or if you would like to arrange a new will or amend an existing will, please contact our Private Client Team on 0161 456 8125 for our Stockport office or 0161 928 9321 for our Altrincham office.

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