Some people think that if they don’t own property, then they don’t need to make a Will. Leaving a Will is an important document that sets out what you want to happen to your assets when you die.
You can also specify other wishes within the document, not necessarily relating to assets or property. Leaving clear instructions and wishes, can help to avoid any confusion or disputes between family members.
Where a person dies without making a will, their assets are shared out according to the rules of intestacy, which may not correspond with the wishes of the deceased.
It is a common misconception that unmarried “common law” partners have the same rights as married couples. The reality is that the intestacy rules make no provision for unmarried partners, irrespective of how long they have been together.
There are many benefits to making a will – for example:-
You can set out who you want to receive your assets, such as any monies left in your bank accounts, and who you want to be in charge of administering the assets in your estate.
You can also include your wishes in respect of your funeral. Whether you would like to be buried or cremated.
A guardian can also be appointed in a Will. You can set out who you would like to look after any of your children under the age of 18.
Personal belongings can also be dealt with, such as jewellery or other sentimental items to ensure that they pass to those you care about.