Although it’s not something we like to think about, everyone dies eventually. It is extremely important to be prepared for this day in case it comes earlier than you expect it to. Using a wills lawyer such as Davies & Co Lawyers to draft your first will is one significant step that you can take which will help your loved ones if you pass away.
Basically, a will records your wishes and tells people what to do after you pass away. You can include things like what will happen to your possessions, who will receive guardianship of your children, and what will happen with the rest of your assets.
Although it is relatively simple to buy a wills kit and to write your own will, the advice of a professional wills lawyer can be invaluable. Consider at least consulting with a lawyer before you attempt to write your will.
Once you are ready to start writing, remember to take your time. Think long and hard about the decisions that you are making, as they will be legally binding and absolute after you die. Remember, you can always update your will at a later date if you would like to.
Think about who you are including in your will:
Deciding who you are going to pass your possessions and other assets onto can be very hard. A good place to start is by writing a list of all the important people in your life who you would like to pass things on to. These might be family members, or they might be close friends – this will vary depending on your life situation.
Once you have this list, decide who is going to get what. Remember, wills are absolute and can’t be changed after you die, so get this right. If you have a large asset pool without anyone to give it to, then you could also choose to give some or all of your wealth to your favourite charity.
If you are unsure about how to do this, then consult a wills lawyer.
Think about your family:
If you have children, you have to provide for them if you and your partner happen to pass away. Think about who you would like to look after your children, and if possible, discuss this with them before putting it in your will.
Appoint an executor:
An executor is the person who will make sure that the instructions in your will are carried out. When you die, your executor is the person responsible for managing your estate and fulfilling your final wishes. Remember, acting as an executor can be difficult, so think carefully before you choose someone.
Writing a will is an extremely important thing to do, no matter what stage of your life you are at. Doing so will make sure that your final wishes are fulfilled, and that your family is cared for if you pass away. Get in touch with a wills lawyer today to find out where to start.
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