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A will is a legal document that sets out instructions for who will inherit your estate and what should happen after you die.
Wills are not just for the wealthy and not exclusively concerned with instructions regarding money, they can also include what sort of funeral you would like, who will inherit certain possessions and incredibly important details such as who should bring up any children you have.
Wills, inheritance and estate planning are essentially about the living. Leaving a will not only gives you the final word but it puts your affairs in order, therefore simplifying matters for your loved ones.
These are some of the main reasons for drawing up a will:
- Name your children's guardian
- Ensure children / step children are provided for financially
- Provide for a partner
- Protect family property
- Prevent family disputes
- Decide who settles your affairs
- Arrange for pets to be cared for
- Set out your digital legacy
- Support charities
Local law firms can help you organise and plan your affairs, and protect and preserve your own interests and those of your family, both now and in the future. They will provide advice on inheritance issues, your wills and estate planning and offer guidance on the duties, rights and obligations of trustees, executors or beneficiaries.
For more information about making a will, we can recommend speaking to Collas Crill Group Partner, Joanne Seal.