Wills: Why everyone should have one

It can be said that many people have the wrong idea about Wills. Often, they’re thought of as something only older and wealthier people make. However, this assumption is deceiving and leaves many modern families vulnerable and without adequate protection for their assets. This article attempts to rewrite some of the misconceptions held about Wills and prove that they’re something everyone needs no matter how old they are and how much savings they have.

Why is it important to write a Will?

Wills are needed to ensure your assets and estate are passed on to your loved ones, in the way you wish for them to be divided.

Without a Will, your belongings are split according to intestacy laws, which pay no regard to unmarried partners, stepchildren, distant relatives or friends. Many professionals working in this area of legal services regard intestacy laws as outdated, and nonreflective of modern family structures. For individuals within a blended family, a Will is the only way to guarantee no loved ones are left out or overlooked when it comes to inheriting the assets you’ve spent a lifetime working for.

How can a Will safeguard my family’s future?

Wills and trusts are useful tools for helping to protect your assets against things such as the rising costs of care fees. It’s also a beneficial way of getting your finances in order, understanding the totality of what you own and protecting against inheritance tax.

A Will, when properly maintained and updated, can also prevent the need for any contests to a Will. After all, how can you expect another family member to interpret what you intended to happen with your estate, if you’re unable to make these decisions yourself?

It can be a great relief to your nearest and dearest if plans have been made well before your passing, as it will save them from having to face any difficult financial decisions whilst working through their grief.

Is it difficult to make a Will?

Not at all – with the right legal advice from a reliable Wills, trusts and probate solicitor, it’s a surprisingly simple process and one that can provide great relief and security. Lots of individuals can be put off writing a Will fearing it’s an incredibly complicated and unsavoury topic to consider. This couldn’t be further from the truth.

When meeting with clients for the first time, our only goal is to make their lives easier. We do this by welcoming them as friends and putting time and effort into getting to understand every facet of their lives so we can provide bespoke, flexible and simple, yet effective, solutions. Every step of the process is clearly outlined, making it easy for clients to follow and feel in control.

When coming to see us, you won’t experience stuffy and impersonal service. Instead, you’ll meet with a solicitor that we’ve taken the time to personally match you with, so a bond of trust can be formed that will last throughout your lifetime.

Many of our customers often report being pleasantly surprised by the friendly and approachable manner with which their solicitors welcomed them, and it not being what they expected when seeking legal advice. They quickly realise that we’re people too, with the same values and priorities as them, which is what makes us the best at what we do. After all, we have our own families we’re motivated to protect. This means we understand exactly what matters to you most and are dedicated to helping you safeguard your family’s future with certainty and clarity, by providing only the highest quality advice.

How often should a Will be updated?

It’s best to review your Will annually – to check if it’s still in standing with your current lifestyle, covers all your assets and reflects your present family structure. A Will also needs to be updated any time your circumstances change, for example, if a new child is welcomed into your family, you get married, file for divorce or purchase a new property or business.

Making any such amends to your Will is a simple matter when working with a reliable and trusted legal specialist, especially one that you’ve known for years, as is often the case with many of our clients.

Considering making a Will? Get in touch

No matter if you’re a homeowner or a renter, have plenty of savings in the bank or barely any at all, or are in your early 20s or approaching your late 60s, everyone has things and people that matter, which is why you need a Will, to ensure they’re protected.

The Wills, trusts and probate team at Debenhams Ottaway specialises in advising a variety of private and high net-worth clients on the writing and updating of their Wills and safeguarding of their assets.

Standing as one of the largest and most knowledgeable Wills, trusts and probate team in Hertfordshire and ranked top in the region for this kind of legal advice, clients can rest assured they are in adept hands. We’d be delighted to hear from you and answer any questions or concerns you may have.

For more information on making a Will, contact Rachel Hyndman at rah@debenhamsottaway.co.uk or call 01727 735648.