Will yourself to make a Will

MAKING a will might not always seem like an immediate priority which is understand able considering it usually brings us face to face with a moment in time we would rather not think about. But making a will has many important advantages, both for you and your loved ones that will continue to resonate long after you die.

And by giving just a little thought for the future at this point in your life, you can ease many practical and financial issues that your family and dependents may encounter when you die. Basically, not to consider making a will with your local solicitor can often lead to some unpleasantness when it comes to the distribution of your possessions, and wishing to avoid such a scenario long after you have gone is peace of mind in itself. By making a will you also negate the chances of dying ‘intestate’ which is a legal term for someone who dies not having made a will and it is worth keeping in mind some of the disadvantageous that come with not making a will. Firstly, the high cost of probatedramatically reduces the level of wealth associated with your property, thus by making a will you ensure that a minimum amount of Capital Acquisition Tax is paid by your chosen inheritors.

Secondly, and perhaps more importantly, if you have not made a will the courts, in certain circumstances, may appoint an executor to distribute your estate (your possessions) in a manner which may not be in accordance with your wishes. This last point in particular is one which leads many people to make a will, as the comfor tthat comes with knowing your cherished and important items pass to a loved one is worth the effort of going to see a solicitor for advice on drafting a will. In short, when you makea will you get to keep control of your property/possessions, plus you choose who gets to handle your affairs after you die rather than the state doing it for you.

So the advantages in making a will seem obvious when one weighs the many benefits involved.

Firstly, you get to appoint an executor you trust and someone who will carryout your wishes.

Secondly, the minutiae of all your possessions can be apportioned with due consideration from cash legacies (who you leave money to) and bequests of specific property (like jewelry and personal items), right down to giving instructions for your funeral ar- rangements.

So how do I go about making a will?

Making a will is easy once proper legal advice is sought and in spite of what people say about the accesibility of making a will via your computer, it is probably more prudent to avail of the services of a solicitor when doing so. Under The Succession Act 1965, the minimum requirements for a will are laid outand this is vital as the will needs to be valid so as to avoid any legal irregularities.

The requirements are simple though and range from trivial aspects of information such as the extent of property and assets, the list of heirs, family and friends involved, while a will must also be in writing. So it might be a good time to finally draw up that will you have long promised. More importantly: making a will allows you to decide for yourself.