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6 reasons to make a Will now

In this blog, Richard Lane from Thomson Webb & Corfield Solicitors in Cambridge explains 6 reasons making a Will is a good idea. Most of us know we should make a Will but getting round to it is hard because there are any number of things we would prefer to do instead. Most people are relieved, however once they have made a Will.

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Where there’s a will, there’s a way for you to:

1. Leave your estate to the people you choose

Family and friends can often lose out if there isn’t a will. No-one knows what fate has around the corner, but sadly, many leave it too late. If someone has not made a will the rules of Intestacy apply. This could mean that your estate, or part of it, goes to someone you would not have chosen. This is particularly important if you are not married to your partner or your family includes children from previous relationships.

2. Avoid family disputes

By making a will, you can avoid family rifts or disputes and prevent expensive court costs.

3. Choose who looks after your children

If you have children under the age of 18 years you can decide in your Will who you would like to be their guardian. This means that they will be brought up by someone you know and trust.

4. Make specific bequests

You might own important or sentimental items such as jewellery, that you would like to leave to a loved one.

5. Leave a gift to a charity close to your heart

If you have not made a Will your estate might pass to distant relatives who you have not met, or even to the Crown. You might prefer a charity or charities to benefit instead, but this can only happen if you make a Will.

6. Avoid leaving your estate to a care home or the tax man

While not usually covered in a basic Will, a Will can reduce liability for Inheritance Tax and protect assets from being sold to pay care home fees. When making your Will the advisor can explain some of the options available to you.

By Richard Lane, Thomson Webb & Corfield Solicitors, Cambridge