It is really important to make a will!
This is because if you pass away without a will or a valid will in place, there are certain rules which dictate how your money, property or possessions should be allocated. This means it may not be the way that you would have wished for your money and possessions to be distributed!
Having a valid will in place means you have control of what will happen to your possessions when you pass away. We understand this is a hard topic to talk about, so when you’re ready to talk about it, we are ready to listen.
What happens if you don't make a will?
If someone passes away without making a will, they are said to have died "intestate." In this case, the distribution of their assets will be determined by the laws of intestacy in their jurisdiction. The exact rules vary by country.
Overall, dying without a will can lead to uncertainty, delays, and potential conflicts among family members. It's generally advisable for individuals to create a will or other estate planning documents to ensure their assets are distributed according to their wishes and to minimize the burden on their loved ones after their passing.
Requirements when making a will
When making a will, there are several key requirements to ensure its validity and effectiveness. These requirements may vary depending on the jurisdiction, but some key requirements in the UK include:
- The person making the will- known as the testator, must be of sound mind and legal age (usually 18 years old).
- The will must be in writing.
- The will must be signed by the testator.
- The will needs to be witnessed by two witnesses. The witnesses must also sign the will in the presence of the testator and each other. Witnesses are typically required to be competent adults who are not beneficiaries under the will.
