Following the recent outbreak of Coronavirus and the subsequent threat to public health, particularly amongst vulnerable groups such as the over-70s, it’s pivotal to liaise with practices offering a will writing service, if such arrangements haven’t already been put in place.
Given the developments surrounding the COVID-19 illness, it’s not inconceivable that the death toll will continue to rise. Therefore, it’s important for people who don’t have a will to perform the necessary steps, act proactively and impose relevant measures.
Companies offering a will writing service can put the appropriate measures in place that will ensure that the correct documentation is introduced to protect the family and/or loved ones, whilst also ensuring that a client’s estate is dealt with accordingly, in the event of death.
In Britain, 54% of people don’t have a will. Nevertheless, in many instances, this can be attributed to a lack of understanding and knowledge of what a will is and the benefits that they can provide.
What is a Will?
A will is a legally binding document that provides an outline of who will inherit an estate and what should happen following a person’s death.
While it’s often considered that a will simply dictates who will receive a person’s personal belongings, this isn’t the case. Rather, the relevant party can use the document to outline their wishes as far as funeral arrangements are concerned, who they’d like to raise their children and so forth.
Although people sometimes opt against will writing services and prepare the document themselves, this can leave the document prone to errors, in which case, its validity may be called into question.
Widely regarded as one of the most important pieces of ‘life-administration’, a will not only ensures that a person’s estate is distributed as they intended but can also be used as a means of providing added financial security for family and loved ones.
Why Should You Use a Will Writing Service?
Many adopt the mindset that they don’t need a will because they won’t be alive to reap the benefits themselves.
However, a will isn’t about protecting your interests; dying without having a will in place can result in issues arising for your loved ones that could easily have been avoided and a company offering will writing services can help implement the most suitable arrangements.
Offer Protection for Your Children
A will doesn’t only dictate who receives what in your estate – it’s a multifunctional document and can be used to protect your children when you’re no longer here.
If your child is classed as a dependent, then your will can outline who you would like to look after them, while a legal guardian can be appointed for under 18s. If this isn’t outlined within your will, or if you don’t have a will at all, then this will be decided by the family courts, a scenario that could see your child living with a person who you wouldn’t have considered a fitting choice.
Moreover, a will writing service can include a condition within your will whereby you can provide financial support for your children; it’s often the case that parents leave money for purposes such as education, a first home, or a wedding.
If money is being bequeathed to children, then it’s often advised to leave any funds in the form of a trust fund. This will ensure that the money is used correctly and is only accessible at a time that you deem appropriate.
Offer Protection for an Unmarried Partner
Contrary to common assumption, a partner isn’t automatically entitled to anything from their partner’s estate if they aren’t married.
However, if there are stipulations within the will that indicate otherwise, then marital status or the length of the relationship aren’t taken into consideration.
Therefore, if you’re yet to marry, but you wish to share your estate with your partner, then this must be outlined within the will.
Keep the Peace
If you don’t have a will in place when you die, or if your will isn’t clear about what your wishes are, then this can lead to divisions and arguments within the family unit.
Using a will writing service will not only ensure that you have a will in place, but it’ll also give you the peace of mind that the documentation has been checked meticulously and that your wishes cannot be called into question, protecting your best interests and maintaining family relations.
Reduce Inheritance Tax
Inheritance tax charged from your estate is variable, depending on multiple factors, such as how much you have and who you decide to leave your estate to.
For example, anything that you decide to leave to your spouse or civil partner is absolved from inheritance tax, while property left to young children and/or grandchildren will often yield a lower amount of inheritance tax.
Protect Your Final Wishes
A will can be used to confirm who you’d like to be in charge of making sure that your final wishes are carried out – these are known as executors.
It’s advisable to assign the role of an executor to your nominated individual in advance. Not only will this allow the selected person to prepare when they’re called upon, but you’ll be able to pick the most suitable person for the role.
Keep a Roof Over Your Family’s Head
Sometimes, an unfortunate scenario can materialise whereby a family home is in the name of the deceased and an unmarried partner and stepchildren can be left facing a potentially troublesome predicament.
However, if a right to reside is in place in a will or a share of the property is left behind, then this will ensure that the family home remains intact and accommodation for the family won’t befall under question.
Is a Will That Important?
It’s highly advisable to have a will in place, particularly given the current risks being posed to public health.
When people die and a will isn’t in place, then control over how their estate is distributed is effectively relinquished. Therefore, if you’re yet to make the relevant measures, then it’s advised that
you seek a will writing service provider who can help.
Testament Legacy Planning: An Experienced Will Writing Service Provider
Here at Testament Legacy Planning, we provide our clients with a range of services, including will writing.
Irrespective of the current developments surrounding COVID-19, we’re a company who is dedicated to ensuring that the right plans can be put in place for our clientele.
If you don’t currently have a will, would like to update your existing documentation or would like specialist advice, please note that our services are uninterrupted; we’re continuing to offer consultations via telephone and video call.