Writing your will is one of the most important things you will do as you mature through adulthood. After all, it will safeguard your most prized possessions while also protecting those you love with a little something you have left behind for them. A will can also tie up some debts which you have left to pay such as mortgage or vehicle payments. It is vital then that you write a will and a detailed one too. Of course, you can do this by yourself however it is highly recommended that you seek professional legal advice.
Legal advisors aren't just there for their experience. Of course, this is a factor and years of estate administration work will contribute to their effectiveness however there is more to estate planning than just that. A legal advisor will be able to talk you through all of the legal nuances around will planning and make sure you get the most out of the estate you have built. These conversions are worth their weight in gold and are a vital part of estate planning assistance. So, you should always seek legal help when you’re writing your will and make sure the people you are working with can be trusted.
So, what about a few things that you should always include in your will? Of course, writing the document that hands over all of your life's earnings and treasures is a difficult task. There are likely many people which you love and care for and it is only natural that you would like to leave them something after you have passed. So, what are a few essential inclusions when it comes to will planning?
Of course, it is imperative you outline who your main assets are going to be left to. Aside from this, you should also include any specific wishes you have for assets such as sentimental items not being sold out of the family. The key is to be as detailed as possible without making it complicated.
Make sure you include any outstanding debts you might have such as mortgages or vehicle repayments. This way these financial areas can be cleared up quickly and your loved ones can start the all-important grieving process.
There you have it then, a few essential inclusions to remember when you come to writing you will. Of course, writing your will is far more complex and detailed than simply including the points we have mentioned above and that’s why it is so important that you hire a team of professionals to help you. After all, they can guide you in the right direction and use their experience to help navigate you through what is an emotionally difficult document to make.
Certainly, with some trusted legal advice, you can rest easy, safe in the knowledge that your estate is safe. Contact our friendly and experienced staff today to find out more!
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Established in 1993, Marshall & Co is a trading name of Emma E Marshall-Birks and Marshall Accountancy Ltd, company number 9425767, registered in England and Wales and whose registered office address is St Mary’s House, Crewe Road, Alsager, Stoke-on-Trent, Staffordshire ST7 2EW.
A Member of the ICAEW Practice Assurance Scheme. Registered to carry out audit work in the UK & Ireland and authorised to carry out the reserved legal activity of non-contentious probate in England and Wales by the Institute of Chartered Accountants in England and Wales. Principal and Director: Emma Elizabeth Marshall-Birks BA (Accounting & Law) MBA FCA BFP