What Exactly is a Will?
A Will is a legal document in which you state what should happen to your assets (money, property, investments and possessions) and most importantly any young children after you have passed away. A Will is one of the most important legal documents you will ever sign!
Within your Will you can:
- Name Guardians, these are the people you trust to look after any of your children who are under 18 years of age.
- Name Executors, the people you trust to carry out the terms of your Will and distribute your estate.
- Name Beneficiaries, the people, organisations or charities you would want to benefit from your estate.
- Leave Legacies, gifts of specific items or fixed sums of money.
- Create Trusts to protect your estate against your spouse/partner marrying after your death or help vulnerable or disabled beneficiaries.
- State funeral wishes
The cheaper option of a DIY Will or a cut-price Will from an unqualified person can prove to be very costly in the future. It should not be left to chance; your Will should be prepared by a qualified professional.