How making a will could change your life for the better

I’m always astonished at the number of people I meet – many with successful careers, much-loved families and significant assets – who don’t have a will.

It matters because I’ve seen far too many situations where people died without a will. The result was chaos. Yet it’s a problem that’s easily avoided.

It’s such a simple thing to do, you could draft the outline for a will in 10 minutes. Read on to find out how.

And learn how making a will can make you better off.

Why a will is important

A valid will is the only way you can be sure that your wishes will be carried out when you’re no longer there to say what should happen.

So if you want your children, grandchildren or other family members to inherit some or all of your estate, you need to spell it out. If you want your partner to inherit your shared home, you need to be clear about this.

Some people have the vague idea that their loved ones will simply be able to step in and take ownership of the property if they die intestate (which is the legal jargon for dying without a will). This is where it gets tricky.

For example, the law says that siblings may be able to inherit a share of your estate if you die without a will. Imagine if family members you didn’t feel particularly close to were able to claim property that your surviving partner really needed.

Your loved ones may also be unable to access bank accounts or investments they need in the aftermath of a funeral.

Not having a will could mean a long, painful wait while lawyers sort out the mess.

How to make a will

Here’s the good news – it is actually really easy to make a will.

You could take the first steps in 10 minutes, simply by answering the 13 questions in this free will template.

Questions like…

Where were you born?

Do you have any burial or cremation wishes?

Are there any specific gifts you wish to make to anyone? (e.g. jewellery, art, furniture, money?)

At what age should your beneficiaries/children receive – 25 years?

…and so on.

Of course, it can get more complicated if you have a family trust or a complex mix of assets. But the basic approach is simple: Answer the questions to make your wishes known.

Do you need a lawyer to make a will?

We always advise people to pay for expert advice, so the next step after filling in our will template should be to contact your lawyer.

A lawyer can run an expert eye over the document, check that it complies with the law, answer any questions, and finalise things for you. For a straightforward will, most solicitors will charge a modest fee and keep your will safe in their files.

The key point is to make sure your will is witnessed and signed.

To be valid, your will must be in writing and be signed at the end by you and two witnesses. All three of you should do this together, with all three seeing the others sign. And of course, the document must be intended by you to take effect as a will. Vague statements of intent aren’t enough.

Why you’ll be better off having made a will

By now it should be clear that having a will is just plain common sense.

And it’s no big drama.

We’ve seen so many people placing themselves under huge psychological pressure by putting off making a will. They worry that it will be a complex, painful, drawn-out and expensive process. It doesn’t have to be.

Just start by downloading our free will template and filling in the answers to 13 questions. Your lawyer can take it from there.

By creating your will you can be sure that your wishes will be carried out after you’re gone. You’ll also be saving those you love from a lot of distress.

And you’ll have the satisfaction of ticking off one very important task from life’s to-do list.

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