Blog Post

6 reasons to make a will this year

Almy & Thomas • 3 January 2019

Preparing a will may not be top on your list of New Year’s resolutions, but we would recommend adding it to the list. Many people under the age of 40 think they don’t need a will, and that there will be plenty of time to prepare it when they get older/get married/have children. However, it’s really not something you should delay.

Read on for six reasons why you should prepare your will this year, no matter how old you are:

Making a will involves choosing your ‘executor’

If someone passes away without a will, their closest relative needs to deal with their affairs and your estate. For many people under 40, this responsibility falls upon their parents if they are living. If you’d like anyone else to be responsible for dealing with all your personal and financial matters after you pass away, create a will and you can explicitly state who you’d like to execute it.

If you’re in a relationship but unmarried, a will ensures that your partner gets something

If you are not married or in a civil partnership, you could potentially leave your girlfriend or boyfriend with nothing, even if you have been in a serious relationship for years. If you would like to leave them with something, a will can make sure of that.

You can ensure that any pets are well taken off after you die

Do you have a pet that you love as if it’s family? To ease your mind about who will care for your pet once you pass, you can include this in your will and leave them with a trusted friend or family member. You can also leave some money to be used specifically to provide care for your pet.

If you’d like to leave something for close friends or younger family members, make a will

Without a will, everything you have will automatically be given to your closest living relative. You may wish to divide up your assets and personal possessions amongst close friends and family members. Or you may want to leave everything to an unrelated person. This can all be specified in the will.

Preparing a will at an earlier age means you can also control what happens with any future inheritance

If you don’t have many asset now but are set to receive an inheritance in the future, your will can specify who the money should go to in case of your death.

You can leave any money to your favourite charity

If you have a cause that is close to your heart, you may be able to continue supporting it even after your passing. Even if it is a small amount, it could make a difference to your charity of choice.

We can help you with preparing a will and inheritance in Torquay, Torbay and the South West. Call us today on 01803 299131 for a free no-obligations consultation.

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