News

With the start of another new year, now is the perfect time to take stock of your affairs and ensure you have everything in order. A good place to begin is to have a Will in place which reflects your wishes when you die and ensures your loved ones are taken care of. Your Will is one of the most important documents you make in your life, so it is vitally important you get it right.

Inheritance disputes have been on the rise for the past few years, with several high-profile cases making headline news, so it is not surprising to learn that, sadly the death of a loved one can lead to family rifts and bitter feuds, which often end up in court. It is, therefore, essential to do all you can to make certain that after you die, your assets and possessions will go to those people or organisations of your choice.  This can be family members, friends or charities you wish to support. 

If you die without a valid Will, it can make what is already a very difficult time even harder for your family.  Your estate, which would include any property that you owned, savings, investments, insurance funds, pension funds and household possessions, would be shared out according to the Rules of Intestacy.  This may mean that your loved ones do not receive what you would have wished them to, which is especially a concern for unmarried couples as your partner may not be automatically entitled to inherit your assets if you pass away.

When making a Will, you will need to consider the following:-

• Your Executors.  These are the people responsible for managing your estate, settling any debts you have and ensuring your estate is distributed in accordance with your Will.

• The Beneficiaries.  These are the people who inherit your estate.  You need to consider how you would wish your estate to be divided and what you would like to happen to your estate if any of your named beneficiaries should die before you.

• Any funeral wishes that you have to provide direction to your family.

• What arrangements to make if you have children, such as naming a legal guardian or providing a Trust for them?

Even if you have a Will, your Will must be up-to-date.  This is especially important if your circumstances change, for example, purchasing a property, getting married, having a relationship breakdown or having a baby. It is recommended that your Will be reviewed and updated at these key times and in any event every 5 years.

Although it may seem daunting and something you think you do not need to address, a professionally drafted Will can give you peace of mind knowing that should the worst happen, your wishes have been documented, and your estate will go to those you love as you wish. 

At Larken & Co, we offer a fixed fee Will writing service at Newark and West Bridgford offices.  Don’t put it off - please do not hesitate to contact us if you require any information or would like to make an appointment.