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Tuesday, 12 May 2015

Don`t Forget Your Last Will And Testament

Sorry to put a downer on your day but everyone at some point or other needs to think about their last Will and testament. If you have any family or friends or organisations you want your money to go to it is hugely important to have a Will so that you know your wishes will be adhered to. Once you actually get around to getting one drawn up it is actually a relief and a weight off your shoulders as you can rest easy knowing any property and possessions will be going to the people you truly want them to go to.

You can draw up a Will by yourself without having a professional helping you out, but in all honesty I would advise you to get in touch with a reputable Solicitor as they will ensure you have every base covered and there are no holes to pick at in your Will.

If you don`t have a Will when you pass away you have died intestate and there are certain rules that govern intestacy. Only married or civil partners, and some other close relatives can inherit under the rules of intestacy. Also if you have made a Will but it is found to be not legally valid then the rules of intestacy will decide how your estate is shared out. And if you are divorced, or legally separated from your civil partner, you cannot inherit any of the estate under intestacy. Passing away without a Will cam cause all manner of complications for the people you leave behind.

 When you make a Will you name an Executor, or Executors, and they will be directed to carry out the wishes of your Will. It is normal to name more than one Executor as if you only had one and something happened to the Executor or they are not available when you die there would be no-one to carry out the execution of your Will.

So in summary make sure you have a Will drawn up, particularly if you have family and you want to ensure that the right people inherit your estate. As more and more families in the last 20 to 30 years split up and then remarry it is important you sit down and think who you want to inherit your property, money and possessions.

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