Writing a Will: FAQ
Writing a will is something that many of us keep intending to do but never quite get around to. With today's fast pace of life, many of us have little enough time to do the things that we want or need to do without having to think about something that we hope we won't need for many years to come.
However, a will is an extremely important document and is not something that should be organised based purely on age or health: nobody knows what life has in store, which is why it is important to be prepared.
Common questions about making a will
Below are some commonly asked questions relating to making a will.
Who should consider making a will? One reason many people tend to keep putting offwriting a will, is that they hope this is not something that they’ll need to do until they’ve reached old age. However, adults of all ages should consider writing a will, as this is an important document that can ensure your wishes are carried out after death and that problems do not arise among your family members. None of us know when our time is up, so being prepared with a will in place is important, particularly if you have valuable assets.
Where can you get advice about writing a will? It is advisable to speak to specialists if you need advice about your will. For example, you can speak to experts at the Co-op Legal Services team about all sorts of will-related issues, from writing a will to getting advice on Co-op probate services. By speaking to experts, you’ll have the peace of mind that comes with knowing what’s involved and what steps you have to take.
What happens if you don't make a will? If you die without having made a valid will, you will be classed as having died intestate. This means that the rules of intestacy will apply to your estate and these are very specific in terms of matters such as administration of your will and beneficiaries of your estate. This could mean that the person or people you want to inherit your assets will miss out and that it could go elsewhere.
Where should the will be kept after it is written? After you have written your will, you should keep it in a safe place, as it is a very important legal document. You can choose to keep it wherever you want, but many prefer to store it with their solicitor or in a secure safe at home. However, do bear in mind that in the event of your death your executor will need to be able to access it, so make sure that he, she, or they are made aware of where it is being kept beforehand.
Once you have made your will, no matter what your age, you can benefit from the peace of mind that whatever assets you have will be distributed the way you want them to be.