Will Writing

Who Should Have a Will?

At FamilyTrusts, we firmly believe that every adult should have a will in place. Regardless of your age, wealth, or marital status, a will is a crucial document that ensures your wishes are respected and your loved ones are protected. Here's why:

  1. Control and Decision-Making: A will grants you full control over how your assets and possessions are distributed after your passing. It allows you to make important decisions regarding the division of your estate, appointment of guardians for minor children, and even specify any specific bequests or charitable donations.

  2. Protecting Loved Ones: Without a will, your estate will be subject to intestacy laws, which may not align with your desires. By having a will, you can provide financial security for your family, name beneficiaries, and minimise potential conflicts or disputes among family members.

  3. Peace of Mind: Creating a will provides peace of mind, knowing that your wishes will be respected and your loved ones will be taken care of. It offers clarity and eliminates any uncertainties that may arise in the absence of a will.

  4. Safeguarding Business Interests: If you own a business, a will allows you to outline how you want it to be managed or passed on. This ensures the smooth transition of your business and minimises disruption during an already challenging time.

The Risks of Not Having a Will

Failing to create a will exposes you and your loved ones to several risks:

  1. Intestacy Laws: Without a will, the distribution of your assets will be governed by intestacy laws, which vary by jurisdiction. These laws may not align with your wishes and could result in unintended beneficiaries or excluding certain individuals from inheriting.

  2. Family Disputes: Intestacy can lead to disagreements among family members, potentially causing rifts and lasting disputes. A clearly drafted will minimises the chances of such conflicts and ensures a smooth transition.

  3. Unintended Beneficiaries: Intestacy laws prioritise legal heirs, which may include distant relatives or individuals you wouldn't have chosen as beneficiaries. By having a will, you have the power to specify who should inherit your assets, ensuring that your intentions are honored.

  4. Delays and Costs: The absence of a will can lead to lengthy legal processes, including probate, which can delay the distribution of assets and incur substantial costs for your estate.

The Risks of DIY Wills

While DIY wills may seem like a cost-effective option, they come with their own set of risks:

  1. Validity Concerns: DIY wills may lack the necessary legal language or proper execution, rendering them invalid or open to challenges. This can lead to complications and additional costs for your loved ones.

  2. Incomplete or Inaccurate Information: DIY wills may overlook critical aspects or fail to address specific situations that can arise in the future. This can create confusion or disputes, as your intentions may not be adequately reflected.

  3. Lack of Legal Advice: DIY wills lack the guidance of a legal professional who can provide tailored advice based on your unique circumstances. A knowledgeable expert can ensure that your will meets all legal requirements and is in your best interest.

We understand the importance of a professionally crafted will. Our experienced team is here to guide you through the process, addressing your concerns, and ensuring that your will reflects your wishes while minimising potential risks.

Contact us today to schedule a consultation and take the essential step of securing your future and protecting your loved ones.