Reasons Why You Need to Write a Will

Jun 8, 2021 | Wills

Recent research suggests that as many as two-thirds of us in the UK don’t have a valid Will. It’s something that most people don’t consider seriously unless they’ve had a life-changing event such as being diagnosed with a serious health condition.

The truth is that none of us knows when we are going to die. Making sure that you have a Will in place, even if you’re relatively young and in full health, ensures that your estate is settled quickly and according to your wishes.

What Happens if You Die Intestate?

If you pass away and don’t leave a will, you are said to have died intestate. When this happens, your entire estate including things like property and personal possessions will be distributed according to current intestacy law. This is okay if you have a traditional family structure. More and more families nowadays, however, don’t always conform as they did say 50 years ago.

The biggest problem here is if you are living with someone but are not married nor in a civil partnership. If you were married, then part of your estate would go automatically to your spouse. If you aren’t married and have children, then your estate would go to the children rather than your spouse. If you have no children then the next in line to benefit from your estate would be, in order of priority: parents, your siblings, grandparents and then uncles and aunts.

If you have no dependents, it makes sense to make a Will and establish your wishes if you do not want your estate to go to distant relatives. If you have a large estate, dying intestate can also have ramifications for how much inheritance tax is paid.

Making It Easier for Your Family

Even if the current intestacy rules match what you want to do with your estate already, not leaving a Will can cause delays and extra financial outlay for your loved ones.

Put simply, leaving a Will makes it much easier for your family to settle your estate once you have passed away. What’s more, you can be completely confident that your assets go to the people that you want them to.

Reducing Inheritance Tax

Inheritance tax and how much you pay depends on the financial value of what you are leaving behind and who you are giving it to. If you are leaving your estate to your spouse, for example, they are exempt from paying tax but if you are leaving your estate to your children, there may be an inheritance tax liability on your estate.

Making Special Provisions

Making a Will allows you to leave specific assets to certain people. While you may want to hand over your property and other major assets to your spouse or children, you can also stipulate specific gifts for people who have meant a lot to you. That could include, for example, leaving a favourite piece of jewellery or a treasured possession to a close friend.

You can also use your Will to make your wishes about your funeral clear to the executors, leave money to charity or an organisation such as a community project or local sports club, and decide who you want to settle your affairs.

You should think about making a valid Will, whatever your age or marital status. It not only means your estate is settled according to your wishes but will also give you complete peace of mind.  

MGF Wills & Estate Planning can help you put together a valid, legally binding Will, guiding you through the entire process from start to finish, ensuring that your loved ones are taken care of once you pass away.

Contact us today to find out more.

Or, if you’d rather arrange a face to face appointment:

Hannah Dunmall
Hannah Dunmall
04/03/2021
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I would highly recommend MGF. Marie guided us kindly and professionally from the first initial phone call to the final signing. She provided an un-pressured, user friendly service, that was very personal and efficient. We were very ignorant around the whole subject of wills and lasting powers of attorney, but Marie always made us feel that no question was a stupid one, and gave her time and attention to ensure we understood all that was involved. We have peace of mind now that we have everything in order, and wouldn’t hesitate to recommend Marie.
Nicole Falleur
Nicole Falleur
26/02/2021
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I found this lady's business on an online search for a local will writer / solicitor for my Mother & I to write our wills after having not so positive experiences with previous companies we'd tried & Mum preferred to relate to a lady & I found that she was in our area & the only 1 who had 100% 5* Star ratings from all her customers who'd left reviews ! So we contacted her & went from there ! 🙂 We could not have found or wished for anyone better ! She offers such a personal service & is so easy to communicate with & is very knowledgeable & goes "the extra mile", nothing seems too much trouble & despite being a very busy woman, she gives as many extra hours of her time as her clients need & she does it all at a set fee ! She does not charge extra add on, additional charges for every hour, phonecall, Zoom call, visit, paperwork she does for you, she keeps to the very competitive price she quoted at the outset, which we found most unusual & refreshingly nice & welcome & very much appreciated indeed, no hidden charges or fear of nasty, frightening financial surprises ! She is such a very lovely person, personable, natural & relaxed to deal with, competent & efficient, keeps her word & punctual, doesn't let you down. We couldn't find better & she truly exceeded our expectations & we will use her again as she offers multiple legal services as listed on her website. Thank you Marie !
Victoria Shortland
Victoria Shortland
26/02/2021
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Fabulous service from MGF Wills and Estate Planning. Marie was very helpful and answered our many many questions very patiently! I felt that Marie really knows her stuff and is very reasonably priced. Highly recommended.
Mr Clive Wills
Mr Clive Wills
12/02/2021
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My wife and I had Mirror Wills drawn up. Marie was very professional, friendly and excellent communication throughout. She talked us through all aspects of wills. A very straightforward process and job done promptly. Completed in a Covid safe way. We would definitely recommend MGF.
Lissy Evett
Lissy Evett
11/02/2021
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My objective was to find a good and affordable Will writing service that could accommodate me in a timely manner. I found all of those things with Marie Forkner, from the MGF Wills & Estate Planning Service. Great customer service, professional, knowledgeable, and friendly. I highly recommend MGF Wills & Estate Planning Service. Excellent!
Kerry Davis
Kerry Davis
01/02/2021
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Doug
Doug
24/01/2021
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We would highly recommend MGF Wills. We had a will made last year. Marie was thorough, patient and willing to answer all our questions. There was no pressure put on us. Pricing was clear from the start. Highly recommended.
Carruthers Family
Carruthers Family
20/01/2021
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Friendly advise & clear directions making completing our 1st Wills very straight forward. Have already recommended to a friend. It didn’t matter that it was all completed over the phone rather than face to face.
Mark C
Mark C
18/01/2021
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Great service, competitively priced and quick turn around time. Marie explained everything clearly and was very knowledgeable. Would definitely recommend.
Mark Smith
Mark Smith
13/01/2021
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Marie drew up the wills for my partner and I. She was professional and accommodating throughout the entire process. Everything was explained clearly and there was no such thing as a silly question. She even took the time to walk us through the signing process with our neighbours! We would thoroughly recommend Marie and will be using her in future if and when we need to update our wills.