Why Make A Will?
One of the main reasons why people make a Will is to ensure that on their death their dependents are provided for and further to make provision for the distribution of their estate on death. In the event that you do not take the time to make a will your estate will be divided under the Law of Intestacy on your death. This can lead to unfairness and has quite serious implications for people with young children.
Making a Will is not difficult. It simply requires you to consider who you wish to benefit from your estate on your death. If you have children under the age of 18 years you need to consider who you wish to be the guardians of your children and appoint trustees to deal with your estate until such time as they reach the age of majority.
Once you have decided how you wish to dispose of your property on death the next step is to arrange an appointment with your solicitor. A Will can be made by any person who has attained the age of 18 years or is or has been married and is of sound disposing mind.
There are a number of formalities which must be adhered to in relation to the making of a will and while it is possible to make your will without attending a solicitor it is not advisable. Furthermore, your solicitor should advise you in relation to the tax implications of any bequest which you wish to make.
If you have made a will and have subsequently married it will be necessary for you to execute a new will unless your will was made with your marriage in mind. It is of course possible to change your will at any stage throughout your lifetime providing you are of sound mind at the time the will is being made and it would be prudent to do so as your circumstances change.
It is important to note that while a will is revoked by marriage it is not revoked by divorce.
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