At My Will Expert, we understand that talking about what will happen when you die may be difficult, but you may also worry about how you can continue to provide for your family when you're gone. Thankfully, an up to date Will can erase these concerns and make things easier for those you care about most when you pass away. The qualified consultants at My Will Expert want to help ensure that you have a Will in place that covers everything you need it to.
What is a Will?
A Will is a legal document that stipulates who you would like to inherit your belongings in the event of your death and can offer other details that may assist your loved ones when it comes to sorting out your affairs.
Why do I need a Will?
Whatever your situation, you would be surprised at how much your estate could mean to someone, and writing a Will ensures that it will go to those you love most. Without a Will in place at the time of your passing, your estate is handled by the courts according to Intestacy Rules.
If you don't have a valid Will in place at the time of your death, you are said to have died intestate. Under these circumstances, the courts will handle your estate according to the intestacy rules; a standard procedure defined in the Inheritance and Trustees Power Act.
Joint owners can either own property as beneficial Joint Tenants or as Tenants in Common. So, what's the difference? Chances are that if you didn't specify at the time you bought your house, you will most likely own it as Joint Tenants.
A trust is a legal arrangement where one or more ‘trustees’ are made legally responsible for holding assets - such as land, money, buildings, shares - for the benefit of one or more beneficiaries.
Choosing your executors
An executor is a person in charge of administering your estate in line with your Will after you pass away. Picking executors to your Will is a big decision that requires careful consideration.