Top 5 reasons to seek proper legal advice when writing a Will
Everyone should consider making a will, and when you’re thinking about the various issues involved you will invariably come across matters upon which you will need legal advice.
The most common areas of concern for people are:
1. Jointly owned property: property jointly owned with another person can sometimes present problems on death depending on the nature of your co-ownership. If a property is co-owned as Joint Tenants the survivor will inherit the whole of the property on the death of the other, regardless of the terms of any will. If, however, a property is co-owned as Tenants in Common, you can leave your respective share in the property to your chosen beneficiary under your will. If you are unsure about the consequences of joint ownership, it is crucial to have it explained to you by a legal professional so that you can be sure your will deals with your property as you would wish.
2. Unmarried couples and civil partners: many couples who are not married are unsure of their legal rights on death and how to provide for each other in their wills. By law civil partners now have the same legal rights as married couples. The situation is more complicated for unmarried couples who do not have an automatic right to inherit the other’s estate and in these circumstances it is particularly important that your will is properly drafted to protect your partner. If you are in a relationship you should seek legal advice to ensure your partner is properly provided for in the event of your death.
3. Potential claims from third parties: if you do not adequately provide for those individuals who are dependent upon you in your will, this could later result in a claim against your estate – regardless of the wishes you made in your will. The law allows dependants to make a claim where they consider insufficient provision has been made for them by your will. If you wish to exclude a close family member from your will for whatever reason you should ensure you seek legal advice as to how to minimise the risk of such a claim.
4. Providing for children under 18: if you have children under 18 and are concerned about their upbringing and welfare when you die you can appoint an individual you trust to be their legal guardian. This can help to avoid legal arguments as to who will look after your children in the event of your death. If you have children under 18, you also need to consider how they would be provided for financially in the event of your death. A will enables you to ensure that your children’s financial future will be secure.
5. Providing for vulnerable or disabled beneficiaries: If you are responsible for an adult beneficiary who is unable to take care of themselves or manage their own affairs you should seek legal advice to ensure that any inheritance you leave for that beneficiary will give them the protection they need. Most often being in receipt of a large inheritance will mean that any state benefits to which your beneficiary is entitled will cease. If this is something which is of concern to you writing a trust into your Will could help. A trust allows you to appoint a trustee to assist your beneficiary in managing their inheritance. It also protects any inheritance left to beneficiaries from being means tested allowing them to receive their inheritance without losing their state benefit entitlement. If you have vulnerable or disabled beneficiaries who you wish to inherit, you should seek legal advice on how best to provide for them in your will.
Whatever your concerns when making a will, take proper legal advice from a wills and probate expert for your peace of mind.
Making a will can be a confusing process and you will want to be sure everything is accounted for to avoid being intestate because of an invalid will. Get the best free legal advice online to make sure you and your family are looked after.
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