Why make a will?

MANY people feel reluctant to do so. They may have a superstitious notion that ‘death follows a will’. They may shy away from the idea if too young or healthy. Some people may simply not wish to ‘waste time’ considering what will happen to their affairs after death. However the making of a will is a relatively simple process which can offer a person great peace of mind and prevent serious problems occurring for their loved ones if the unexpected happens.

In a will a person (known as the ‘ testator’) is essentially leaving instructions for how their property will be distributed when the time comes. The major benefit of this is that their loved ones and dependants will be taken care of.

Where a person passes away without having made a will they will be known to have died ‘intestate’. The consequence of this is that neither they nor their family will have any say on how their property will be divided. It will essentially be left to the State to distribute it in accordance with ‘ the rules of intestacy’ as set out in legislation. This ‘one size fits all’ approach can and often will be very much at odds with the needs of a particular person.

There are many other benefits to making a will. It can help reduce your tax liabilities and also offers you an opportunity to appoint an individual (known as an executor) to manage your affairs. It will also allow for your assets to be distributed in a quicker and less expensive manner.

If you wish to make a will you should contact your solicitor who will take full and detailed instructions of particular needs and requirements. Following from this your solicitor will prepare a draft will for your approval. This will be witnessed and signed to have legal effect. It is important to keep in mind that a will ‘only speaks from death’ and can be changed as much as you wish in your lifetime. This is especially important to consider if your circumstances change, for example you remarry or become widowed.

Making a will is not something that should be left to the last minute. For anyone with responsibilities to others, especially those with young children, it is an important duty which can be done very easily.