A Will is an important document expressing your wishes as to how you would like your property and finances to be distributed after your death.

You may wonder whether you need a Will, or when the best time is to write one. We have some suggestions that you may wish to consider if you are thinking of writing your will.

When is the best time to write a Will?

There are a number of milestones in your life that it is advisable to either write a Will, or update any existing Will to reflect these changes in your life. This can include:

Purchasing a property

Purchasing a property makes a considerable change to the value of your estate. It is therefore highly recommended that you write a Will, allowing you to decide who should inherit your property in the event of your death. For example, you may wish to pass this asset on to a spouse or child, allowing them to continue residing in the family home.  

Getting married 

When you get married, any Will written previously will become void. It is therefore important to make a new Will that reflects how you wish your estate to be distributed.

Getting divorced

If you go through divorce proceedings, unlike when you enter a marriage, your Will remains in place, but any gifts to your former spouse will be cancelled. However, it is always advisable to review your Will, ensuring it still reflects your wishes, especially if you now have a new partner. 

Having children

It is imperative that you make a Will if you have children, especially if they are under the age of 18. You will be able to draft a Will containing a guardian clause, specifying who should look after your children should you and your spouse pass away. It is important to note, that if you have not identified a guardian, legislation will dictate who will care for your children.

Starting a business

If you own a business, having an up to date Will in place means you can stipulate who you wish to take over running the business in the event of your death. You have control over what happens to the assets of your business and how they will be passed on to your loved ones. 

What happens if you don’t write a Will?

When a person dies without leaving a valid Will in place, their estate must be shared out according to particular rules – these are known as the Rules of Intestacy. The individual who hasn’t left a Will would be known as an intestate person.

The Rules of Intestacy state that only married or civil partners and some other close relatives are able to inherit the deceased estate.

• Married partners and civil partners.
• Children
• Parents
• Grandchildren or great-grandchildren
• Brothers and sisters
• Nieces and nephews

Be aware that an unmarried partner receives nothing, however long the relationship!  It is recommended that you have a Will in place that is regularly updated to ensure that your wishes are clearly outlined to your loved ones. Our expert team will be able to guide you through the process of writing a Will.

How we can help 

We understand that the process of writing a Will can seem daunting, and because of this you will receive expert guidance from our solicitors to ensure your wishes are put in place.

Contact us today to arrange an appointment with our expert team.

Location 

Our Solicitors are able to provide expert advice across the country with a network of offices based in: Chesterfield, Nottingham, Mansfield, and Derby.

How to get in contact

Our team are on hand to help you and can assist wherever you are based. Please call us on 0330 333 2613 for a no-obligation, initial discussion or email enquiries@elliotmather.co.uk and we will call or email you back.

• Probate