6 Reasons to have a Will

Having a Will should be a priority for all adults, especially business owners.

A Will is a written legal document which outlines your wishes regarding what should happen to your estate after your death. If you do not have a Will when you pass away, the rules of intestacy will be followed, which may mean your wishes are not carried out and the process of dealing with your estate could be lengthy.

If you’re still not prioritising writing your Will, please continue reading through our 6 reasons to have a Will, where we uncover why it’s so important.

1. Control:

A Will allows you to have control over how your assets are distributed after your death.

2. Avoid Intestacy Laws:

If you die without a Will, the state will decide how your assets will be distributed, which may not be in accordance with your wishes.

3. Guardianship:

If you have minor children, a Will allows you to name a guardian to care for them if you die before they reach adulthood.

4. Avoid Family Disputes:

Having a clear and legally binding Will can help avoid family disputes that may arise over the distribution of assets.

5. Peace of Mind:

Having a Will can provide peace of mind, knowing that your wishes will be carried out after your death.

6. Protect Business Interests:

If you own a business, a Will can help protect your business interests and ensure a smooth transition of ownership.

If you don’t yet have a Will or you’ve had a significant life event since your last Will was written and you’d like to speak with a Will Writer, please contact us and we will happily introduce you to one of our trusted partners.

When should you review your Will?

Broadly speaking, if you experience a significant life event, then it’s a good idea to review your Will. A significant life event could typically be:

• Getting married
• Getting divorced
• Re-marring
• Moving house
• Buying your first house
• Having children
• Starting a business
• Selling a business
• Inheriting money or assets

If you have any questions relating to writing a Will or planning for Inheritance Tax, please don’t hesitate to contact us using the information below.

(E) enquiries@advaloremgroup.uk (T) 01908 219100 (W) advaloremgroup.uk