The reasons why people consider making their Will may change during their lifetime. For some people this can be an excuse for putting it off. They may feel they need to wait until they’re married, or they’ve had children, or until the children have left home, or they’ve downsized… The list is endless. The fact is, that if you are thinking about your Will, then the time to do it is now. Often, your Will can take into consideration the circumstances that may arise later, and if it doesn’t, then your Will can be updated in the future so long as you still have the capacity to do so.
If you don’t have a Will, then the rules of Intestacy will apply. These rules were written many years ago and don’t reflect many of today’s complex family situations. For instance, unmarried couples are not included, nor are step children.
Most people will want to make simple Wills. A married couple may just want to leave everything to each other and then to their children when they have both died. However, it is important to look at the ‘what if’ scenarios. What if the surviving spouse remarried – would the children still get their inheritance? What if the surviving spouse needed long term care – would the whole estate be spent on care fees? These scenarios and many others can be helped by using Trusts within the Wills.
At your appointment with Local Wills Derby, these ‘what if’ scenarios will be explained allowing you to make an informed decision on what you want to put in your Will.
