Protecting Your Legacy: The Importance of Having a Will
If you do not have a Will, the rules of intestacy are legal guidelines that determine how a person’s assets and property will be distributed if they die. Here are some drawbacks of not having a Will:
1. Default distribution:
When someone dies intestate, the laws of intestacy dictate a predetermined order of distribution for their assets.
2. Limited choice and control:
Without a will, you have no say in how your assets will be distributed. The laws of intestacy are based on general assumptions about family relationships and may not align with your specific wishes. By making a will, you retain the freedom to determine who receives your assets and in what proportions, allowing you to provide for loved ones or make charitable donations according to your preferences.
3. Challenges and disputes:
Intestacy can lead to disputes among family members, especially if there are differing opinions or expectations about the distribution of assets. Disputes can result in costly legal battles, strained relationships, and delays in asset distribution. By making a will and clearly stating your intentions, you reduce the likelihood of disputes and provide a clear framework for asset distribution, minimising potential conflicts.
4. Guardianship of minor children:
If you have minor children and die without a will, the court will determine who will assume guardianship. This decision may not align with your preferences or the best interests of your children. By making a will, you can nominate a guardian for your minor children, ensuring that someone you trust will take care of them in the event of your death.
5. Avoiding unintended beneficiaries:
Intestacy laws generally prioritise immediate family members in asset distribution. If you have specific individuals or organisations you want to include as beneficiaries, such as close friends, distant relatives, or charitable organizations, it is crucial to have a will.
Making a will allows you to exercise control over your estate, protect your loved ones, and minimise the potential for disputes and unintended consequences.
If you have not made a Will, please contact the team at Guardian Solicitors on 0203 301 6600 or by email us at info@guardiansolicitors.co.uk
