Let’s talk about death
Death is definitely a strange topic to talk about. Most people do not want to face the idea that they will one day, sadly, pass away. For many, the pain of losing a loved one on the past means that they will happily avoid talking about the subject whenever possible. Despite this, being curious and talking about death is a natural thing and in terms of money and finance it is a very smart idea.
Wills are not just for elderly people
Most people will assume that they must only create their will when they are older, perhaps at retirement age, and will simply not think about the idea until then. Sadly, however, death is not just reserved for those that have already lived a long and happy life. Having a will at all stages of your adult life is be considered smart and money-wise.
Wills are actually legal from the age of 18 and although they are not a legal requirement, 70% of the people that died in the UK last year did not have a will. This means that for these people who passed away, their family will have had increased stress in sorting out their money, property and belongings. Not only that, but the government may struggled to ensure that such assets were given to the person that the deceased would have nominated.
Reasons to have a will
Children – if you have children that will need to be cared for in case of an untimely death, you should nominate funds and in certain cases even allocate a person to help to ensure their future.
Income, assets and property – it is important to nominate who you would like your assets to go to to prevent your loved ones having to participate in complicated legal battles should you pass away.
Avoid tax – should you pass away without a will, there are complex laws in place which may see loved ones having to pay a large fee to release your assets from the government.
Writing a will – a simple ‘how to’
You are able to write your own will as a document and lay out what you wish to happen should you pass away. However, since a will is intended as a legal document, you must be certain that it meets all the legal requirements to make it valid. This can be a very complicated procedure and most will struggle to achieve an adequately written will without the help of a law professional.
A more simple and reassuring way to create your will is to actually invest the help of a will writing company to help you to design and execute your wishes. You may wish to enlist the advice of Trusted Will Writers who can ensure everything is laid out precisely and legally.
Don’t forget, you don’t only have to leave your assets to individual people that you know. It is a fairly popular choice for individuals to remember charities and organisations in their wills as a way of saying ‘thank you’ or commending important charitable work.