As the season of good will is well and truly upon us, thoughts turn to family, relatives and those close to us. Could the best gift you can give yourself or a loved one be the act of finally filing a Will for your families future. Writing a Will is something which, although is acknowledged as being important, is often left on the back-burner, to be dealt with at another time, any time, but the current time! It is true, that having a Will written can be complicated, but with a Will Writer the way forward could be much easier than you may think. Theresa Jones from Independent Wills says: ‘Often, the process is quite straightforward.’
Theresa advises that it is important to choose Executors whom you can trust to act on your behalf, and also in the best interest of the beneficiaries. Executors are responsible for administration such as form filling and running a bank account. Husbands and wives would normally choose each other and also have another person to be there to help, or take over should that be necessary. If guardians are involved for minor children, then the executor and the guardian will need to work together in the best interest of the children, making payment for their support whilst protecting their inheritance for their future.
Nowadays, family situations can be complicated with
- divorced parents re-marrying and bringing two families together as one, or
- co-habiting couples with or without children, or
- the usual married couple with 2.4 children and, of course,
- single parents.
In any of these situations, Theresa says a Will needs to be in place to ensure minor children are protected with a suitable guardian whom you have chosen, and will care for them and nurture them. If this is not in place, The State will decide.
Case Study: Bill and Jean recently married. Bill had been widowed and left with two young daughters and Jean was divorced and had a young son. Bill came to the marriage with double Jean’s contribution, but she had since inherited money from her mother. When it came to writing their Will, Bill and Jean needed to consider if they would be happy to leave to each other in equal amounts, or their children in equal amounts, or would Jean prefer to have her mother’s inheritance just for her own children. All the people involved, plus their extended families need to be considered.
Case Study: John and Mary, married six years ago and now have two children. Probably the Will would be written that should either parent die, the other parent would have their share and upon the death of the surviving parent, the children would have the estate divided equally between them.
The basic information to be considered is:
- Name and address.
- Who you would like for your Executors?
- Who would you like to leave your Estate to? Children, grandchildren, relatives, friends, charities?
- If necessary, a guardian for minor children?
- Would you prefer to be buried or cremated?
- You can add other desires also.
Independent Wills, specialise in discussing and taking instructions in the comfort of your own home, at a time that suits you, saving you valuable time as it usually takes at least two visits to a Solicitor’s office.
If you are thinking of having your Will written their relaxed and friendly approach might be one to consider for your own affairs or a relatives.
Find out more at from Theresa Jones at INDEPENDENT WILLS – Affordable Wills From Your Own Home
Telephone: 01264 749234