A Will is a legal document that allows you to state what should happen to your assets (your money, property, investments and possessions) as well as your young children after you have passed away.
By Making a Will You Can:
· Appoint people you trust to look after your children under 18 years (called Guardians).
· Appoint people you trust to carry out the terms of your Will (called Executors).
· Name the people or charities you want to benefit from your estate (called Beneficiaries).
· Leave gifts of specific items or fixed sums of money (called Legacies).
· Create Trusts to help preserve wealth for future generations, protect against residential care costs or help vulnerable or disabled beneficiaries.
· State your funeral wishes.
A Will is one of the most important legal documents you will ever sign. If you die without a valid Will in England or Wales the law can decide who has responsibility for children under 18 and who receives your money, property, cars, pets and all your other belongings.
Making a Will clarifies your wishes and enables you to give your loved ones financial protection after you die. If you are a couple with similar wishes you may want to make Mirror Wills, which are essentially identical Wills, with each person leaving their assets to the same beneficiaries in each Will.