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. As well as ensuring that you get to choose who benefits from your passing, it can make things a little easier for your family at what will likely be a challenging time.
Types of Will
Depending on your circumstances, you may be interested in either a Single or a Joint Will, which you can read more about below.
You can also enhance your Will with a trust, which can be used in a variety of ways, including:
- To control and protect family assets.
- To safeguard assets given to someone who may lack capacity to handle their affairs, such as a young person or someone with a mental or physical incapacity.
- To pass on money or property while you are still alive.
There are many other reasons to consider a trust too - our qualified consultants will be able to advise you on the best options to suit your needs.
A Single Will is an individual legal document designed to offer your chosen executors instructions regarding how you want your estate to be divided in the event of your death. It is a versatile instrument that you can use to express a wide range of wishes – you can find out more about what a Will could do for you here.
A Joint Will, sometimes called a Mirror Will, is a pair of legal documents that are almost identical apart from the personal details of each Will owner.
Joint Wills are ideal for couples who share the same wishes regarding how they want their estate to be divided upon their death. As their instructions will be the same, a Will writer can create two official copies of the document simultaneously, saving you time and money creating both Wills.
However, a Joint Will is not suitable for everyone. For example, if you each have separate assets that you will be leaving to different beneficiaries, this type of Will may not be right for you. In addition, it is important to remember that your spouse or partner could change their Will after your death, so it is not a guarantee that your wishes will be upheld if you die first and your partner receives your estate. If you are worried about your partner changing their Will later, such as if they remarry, then it is worth considering a trust.
My Will Expert's consultants would be happy to discuss these options with you further.