While the thought of creating a Will can be daunting, they are the best way to ensure that possessions are dealt with according to personal wishes upon death.
A common misconception, many believe that upon the death of a loved one, assets are automatically handed to the wife, husband or spouse. However, this is simply not true. While many do consider their partners in their Will, if you are not married and do not have a Will in place, partners have no legal rights or entitlements when their partner dies.
In addition, some individuals decide to leave their partner out of their Will and wish to do the following instead;
- Leave their assets or personal possessions to their children or grandchildren
- Leave their assets or personal possessions to their friends
- Leave their assets or personal possessions to a charity of their choice
- Leave their assets or personal possessions to children or a spouse from a previous relationship or marriage
The preparation of a will ultimately declare who is entitled to receive personal possessions. However, without a will, there is no legal document in place that states how possessions should be distributed. As a result, this leaves matters to chance and could see any estates passed on to the government.
To ensure that your estates and possessions are dealt with in accordance with your wishes, the formation of a Will is of utmost importance. Furthermore, the creation of a Will ensures that the chance of any disputes surrounding possessions and estates are minimalised.
Here at BWL, we understand that regardless of whether you are in a relationship, or married, you will want to ensure that your loved one’s future is safeguarded. As a result, we will provide professional advice to ensure that your Will is tailored to your personal circumstances and wishes.
From preparing your will to dealing with the estates left by your loved ones, our private client team is on hand to help you deal with your needs in an empathetic and calm manner.
To find out more about our areas of expertise, visit our Private Client page here. Alternatively, contact us today via telephone.