Make a will now otherwise someone else will decide on your estate
Not making a will can be very costly for your family once you have passed away. Don't let someone else decide on how your estate is split up amongst your family.
By: Create A Will
If a will is not drafted and you were very unfortunate and lost your life, what happens to your estate will not be in your control.
You may not care too much but for the vast majority of people there are family and or friends who could benefit as opposed to the state.
If no executor is appointed and no will is left when someone passes away, there are rules which have to be followed and these rules will likely lead to delays in the estate being paid out and passed on along with the extra costs which will be required to administer the will.
Protecting your family and loved ones does not cost a lot of money, it is strongly advised that legal advice is sought when drafting your will. You can get an online template and write your own will in a matter of minutes but we strongly advise against this.
Should you have children or any property there are potential tax implications and clauses which you should be aware of to ensure you are doing the best for the family left behind.
If you don't manage your financial affairs for when you pass away you could be leaving those behind in debt, tax implications or costs for administering your estate could mean you are applying financial pressure. We have heard of people acquiring debt and needing an IVA or debt management plan in the most extreme of circumstances.