Why Should I Write a Will?
Why should I write a Will?
If you are considering writing a Will or updating an existing Will, you have come to the right place. Making a Will is the most important step you can take to get your affairs in order and can act as a starting point for estate planning.
Making a Will with our team is straightforward. We will guide you through the process and ensure that your Will accurately reflects your wishes. We can also help you to update an existing Will if your circumstances have changed.
Simplicity Legal offer a free* initial consultation and transparent, fixed fees. If you are ready to take the first step towards effective future planning, get in touch with us today. You can call us on 0141 465 5743 or complete our online enquiry form, and we will get back to you to arrange an appointment. We make things simple.
Reasons to Make a Will
Writing a Will is often something we know we should do, but never quite make time for. Unfortunately, the consequences of failing to make a Will can be severe and cause unnecessary difficulty for your loved ones at an already emotional time.
Making a Will allows you to decide who will inherit what from your estate.
Making a valid Will is the only way to ensure that your assets are distributed in line with your wishes after you pass away.
In Scotland, anyone over the age of 12 can make a Will – but many fail to do so until much later in life, if at all. If you pass away without leaving a Will, your assets will be distributed in line with a set of standard rules known as the ‘laws of intestacy’. Where someone dies without leaving a Will, they are said to have died ‘intestate’.
It is a common misconception that these rules will mean your assets are distributed among those closest to you, including your spouse or children. While this is partially true, there are many complications which can arise where a person dies intestate.
The rules do provide for those closely related to you. However, there is no regard for the relationship you have with those people. A good example is if you are married but have become estranged from your spouse, or if you have a partner that you are not married to. Even if you have shared your whole life with someone, if you are not married, your estate may end up going to the Crown, when it cannot be divided in line with the laws of intestacy.
If you do not make a Will, neither you nor your loved ones will have any control over how your property is divided. As a result, you should discuss your wishes with a specialist Wills solicitor. Our team can help. We can assist you in drafting a Will that makes provision for those closest to you, and you can move on in life safe in the knowledge that they will be taken care of when you pass away.
You can leave a particular item to a person, or you can choose to leave money to them.
The laws of intestacy provide for a simple system of dividing up an estate – they do not allow for gifts. If you wish to leave someone a particular item, or a sum of money, you will need to include this gift in your Will. Often, family Wills disputes arise out of who should inherit a particular item, so when you make your Will, we will be sure to prompt you about items of significant financial or sentimental value.
You can reduce the estate’s inheritance tax liability.
One of the most important things to consider when making a Will is inheritance tax planning. Our solicitors will work with you to evaluate your assets and discover ways to mitigate your inheritance tax bill. Effective inheritance tax planning allows your loved ones to benefit from the maximum amount from your estate after you die.
You can appoint your executors.
You may have someone in mind who you wish to deal with your affairs after you pass away, but choosing your executors can be a difficult task. You may want to discuss the role with those you feel would be most suitable and make clear your wishes and intentions. Naming your executors in your Will can make the process easier for your loved ones when the time comes and avoid any disputes.
Contact our Fixed Fee Wills Solicitors in Glasgow, Shawlands, East Kilbride, Edinburgh and Lanarkshire
If you have any questions or concerns about making a Will in Scotland, our experienced Wills solicitors based in Glasgow offer a Free* initial consultation to help you. You can contact us today by calling 0141 465 5743 or complete our online enquiry form and we will get back to you.
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