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Why should you make a Will?
The theme of this year’s Dying Matters awareness week is ‘Are We Ready?’ For many, the answer may be ‘no’. People often find it hard to think about what will happen when they are gone and often put off making a Will. Yet it is one of the most important tasks to complete.
Here are just some of the reasons why making a Will is essential:
- You can make sure your property is distributed in the way you would like
- You can make sure your children have named guardians to care for them
- If inheritance tax is payable, a carefully drafted Will could help reduce the tax bill
- You can make sure friends and charities benefit exactly as you wish
People often believe they are able to draft their own Will but it is not recommended as if not drafted properly, it could lead to costly disputes. Similarly, you may think that your home-made Will is clear, but, after your death, you will not be able to clarify any misunderstanding or dispute between family members. To be valid, a Will must be in writing and be signed by the person making the will in the presence of two or more witnesses, who must also sign at the same time.