3 Reasons Why Every Parent Should have a Will

If you are a parent, it’s imperative that you have a legally binding Will in place. By putting a Will in place, you can ensure that regardless of what the future holds for you, you have secured your children’s futures. Having a Will is something that every parent needs to have – even if you’ve verbalised your wishes to other family members about what should happen in the event of your death, you need to have a legally binding Will in place. 

Let’s take a look at three simple reasons why every parent really should have a Will in place. 

1. Avoid leaving your children in a chaotic situation 

This might sound like a bit of an exaggeration but the truth is that dealing with a person’s estate after they die is no easy task – there’s a lot to think about and organise, and that’s without having children in the equation. It’s for this reason that it’s important to put a Will in place, so that should anything happen to you, your children aren’t left in limbo with well-meaning relatives arguing over who can care for them best. 

By putting a Will in place, you can ensure that your children are left with the people who you want to care for them in the event of your death. If you don’t have a Will in place, your children’s future will be decided by the courts, not by you. 

2. Determine legal guardians 

A lot of people make the mistake of assuming that should something happen to them, their children will automatically go to live with a family member or close friend, however, if there’s not a Will in place, this is not automatically the case. If you don’t have a Will that sets out your wishes, then it will be the courts who decide where your little ones end up and what happens to them. Being in such an uncertain situation can be extremely distressing for children, and it can sometimes mean that your children end up being looked after by a person you would not have picked to care for them. 

3. Protect your children’s financial future 

If you want to ensure that your children inherit what you would like them to, then you need to set this out in your Will. If you pass away without having a Will in place, then your estate would be divided using the laws of intestacy, which determine where your money should go. This could mean that the money you have set aside for your children does not end up going to them. 

No one wants to think about what would happen to their children if they weren’t around, but if you want to make sure that in your absence your little ones are well looked after, then you need to put a Will in place. 

The good news is that with our new Will writing service, creating a Will couldn’t be easier, more affordable, or more convenient.

What Happens If I Don’t Have A Will?

I don’t have a Will in place, what does that mean if I die? 

Anyone who doesn’t have a Will in place is, in effect, leaving everything to the State to determine, from how their assets are split to who should care for their children. If you pass away without having a Will in place, you will be said to have died ‘intestate’, with the Intestacy Rules regulating who gets what if you pass away without a Will in place. 

While in some instances, the Intestacy Rules do reflect what the deceased may have wanted, in many instances the process used by the Intestacy Rules can lead to completely unexpected outcomes. They can leave a loved one living in financial hardship, children being taken into the care of the State, and disputes arising around who should benefit from the Will. 

That’s why it’s not recommended that you fail to put a Will in place and allow your assets to be distributed in accordance with Intestacy Rules. 

It’s not just about your assets, it’s also about the impact your death will have on those closest to you. If you die without a Will in place, there are a set of processes that are usually followed, in regards to who is entitled to what. 

Usually, if you are married and your estate is worth less than £270,000, your spouse benefits from everything. 

If you have children, the first £270,000 plus all of your belongings will go to them, they will also get a 50% share of the remainder of your estate, with the other 50% going to your children. 

If you are married but don’t have children, your spouse will inherit everything. 

If you are not married but have children, your partner will inherit nothing, while your children will inherit everything. 

If you are not married and have no children, your estate will go to your parents, full siblings, half-siblings, grandparents, uncles and aunts or their children. If you have no surviving relatives then your entire estate will go to the Crown. 

The issue is that for anyone who is not married, the relationship is not recognised under Intestacy Rules, which means that if you fail to make a Will, the partner you have built a life with could be left with nothing. 

Another issue is that if you’re a single parent – or both you and your children’s other parent pass away – and you don’t have a Will in place that determines what should happen to your children in the event of your death, they could end up in the care of the State, rather than living with a relative. 

It’s your responsibility to ensure that you have an up to date and legally binding Will in place. Our Will writing service makes it simple and affordable to make a Will – if you’re yet to make a Will, get in touch with us today! 

Do I Really Need A Will – What Are The Benefits?

You might not think that having a Will is really necessary, but you really ought to think again. Did you know that if you don’t have a Will in place, the courts will decide what happens to your assets? Without a Will, your wishes won’t be taken into account. 

Just take a moment to think about what that could mean for your partner, your children, or even your pets… If you want to be in control of what happens after you pass away, then it’s your responsibility to have an up-to-date will in place. 

The fact is that no one likes to think about their death – the idea of leaving your loved ones behind isn’t a nice thought, is it? However, death is the one thing in life that is – sadly, at one point or another – guaranteed. We are all born and we all die, and that’s just a fact of life. 

If you don’t have a Will in place when you die, you will have no say over what happens to your money, your property, or even your children. You owe it to yourself and your loved ones to put a Will in place, ensuring that your wishes are taken into account in the event of your death. 

Still not convinced that making a Will is an important step to take? 

Here are some of the reasons that you really should consider making a Will: 

1. A Will provides financial security for your loved ones – you get to determine how your money is split and where it goes. This could mean putting funds into savings accounts for your children to help protect their future, for instance.  

2. A Will allows you to make gifts of possessions and money – you can decide who your belongings and savings go to. 

3. Having a Will in place means that your beneficiaries will pay less inheritance tax. 

4. A Will ensures that you are able to appoint guardians for your children – you may hate the idea of leaving your little ones behind, but by appointing guardians for them who you trust, you can ensure that no matter what happens, they will be properly taken care of. 

5. Having a Will in place helps to avoid inheritance disputes – the last thing that you want should something happen to you, is for your family or friends to fall out over your assets, which is why having a Will in place is so important. 

6. You can share your wishes for your funeral – a Will allows you to share your wishes for your funeral, helping to make planning your funeral easier and less stressful for your family and friends. 

7. A Will allows you to put arrangements in place for your pets – The idea of your beloved pets ending up without a loving home is heartbreaking, isn’t it? However, by putting plans in place for your pets’ future in your Will, you can ensure that your ‘fur babies’ are looked after, regardless of what happens to you. 

Making a Will gives you the opportunity to take control of your affairs in the event of your death, despite no longer being around. Ensure that your loved ones are protected, and your wishes are met by having a professional Will in place.