What is a Will & why do I need one? The Property Fox Leicester
Posted on 19th October 2022
What is a will?
A will is a legal document that states your wishes after you die.
It includes items such as who you would like to inherit your property and assets, who should take care of your children, and what type of funeral you would like.
Why are they important?
It is important to have a will because it ensures that your wishes are carried out after you die.
If you do not have a will, then the state will decide how your property and assets are distributed, and who takes care of your children.
This can often lead to conflict and disagreements amongst family members.
When should you write a will?
You should write a will as soon as you turn 18 years old, or when you purchase your first property.
If you have children, it is also important to have a will in place so that you can choose who you would like to take care of them if something were to happen to you.
It is also important to update your will every few years, or whenever there is a major life event, such as getting married, having children, or buying a new property.
Who should you seek help from when writing a will?
It is always best to seek professional help when writing a will.
This can be from a lawyer, accountant, or financial advisor.
They can help you to understand the legal implications of your will, and ensure that it is executed correctly.
So to conclude on what a will is and why they are so impotant-
A will is simply a document that states your wishes for what you want to happen to your property and assets when you die.
Having a clear will in place makes sure that what you want to happen, happens and there is no confusion for your loved ones.
So if you don't have a will yet, or it has been a while since you updated it, now is the time to get it done! You'll be glad you did.
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