How a Will protects your beneficiaries
Why write a Will?
Sometimes one of the reasons that people don’t have a formal Will is that they believe that the matter of inheritance will simply work itself out should they die without a Will.
While there is an element of truth to this, as the law will always endeavour to distribute your assets down your bloodline should you die without leaving a Will, there is much more that you can do to protect your beneficiaries and ensure that they receive everything you want them to receive.
When a person dies without leaving a valid Will, their estate must be shared out in accordance with certain rules. These are called the rules of intestacy, and refer to the legislation in place to govern the division of assets among the appropriate parties should a person die without leaving a Will i.e. dying intestate.
Moreover, if someone dies without leaving a will, dealing with their estate can be incredibly complicated, as well as taking a long time.
The best way to protect your beneficiaries, therefore, is to write a valid Will.
By writing a Will, you’re effectively laying down your explicit wishes in black and white, meaning that there is no ambiguity or uncertainty when it comes to fulfilling your wishes.
This means that you can ensure that the people who mean the most to you are properly looked after, which might not necessarily be the case under the rules of intestacy.
How Wilson Nesbitt can help
At Wilson Nesbitt we wholly understand that writing a Will is a difficult thing to even think about, as we are very aware that nobody really wants to think about something as morbid as what happens after they die.
Still, while we know that thinking about it is difficult, we will endeavour to help all those who wish to take the next step in planning for their future.
We have a team of Will writing solicitors who can assist you with making a Will and an enduring power of attorney.
We can also advise you in relation to the following Will laws in Northern Ireland:
- inheritance tax planning
- gifting and nomination of assets
- making trusts
We can also introduce you to providers of pre-paid funeral plans or financial advisers in relation to long term care plans or equity release fund raising.