What are the Benefits of having a Will

Published June 10 2024
2 minute read

Creating a will is an important step in managing your estate and ensuring that your wishes are carried out after your death. Here at Pattison Lane we have partnered with W&P Legal, a professional team on hand to help you create your Will, allowing you to have peace of mind for the future.

Here are some key benefits of having a will:

Control over distribution of assets: A will allows you to specify how your assets should be distributed. Without a will, the legal system determines who inherits your property, which might not align with your wishes.

Protecting Minor Children: If you have minor children, a will enables you to designate a guardian to take care of them if both parents pass away. This ensures your children are cared for by someone you trust.

Reducing Family Disputes: Clear instructions in a will can help prevent misunderstandings and conflicts among family members regarding the distribution of your estate.

Naming an Executor: A will allows you to appoint an executor to manage and settle your estate. This person will be responsible for carrying out your wishes as outlined in the will.

Expediting the Probate Process: Having a will can streamline the probate process, making it faster and potentially less costly. It provides a clear plan for how your estate should be handled, reducing the need for court intervention.

Providing for Loved Ones: You can ensure that specific loved ones, friends, or charitable organisations receive the assets or gifts you wish to leave them.

Minimising Estate Taxes: A well-crafted will can include strategies to minimise estate taxes, helping to preserve more of your estate for your beneficiaries.

Addressing Digital Assets: You can include instructions on how to handle your digital assets, such as social media accounts, online banking, and other digital property.

Setting Up Trusts: A will can establish trusts to manage and protect assets for beneficiaries, such as children or individuals with special needs, ensuring they are used in a responsible manner.

Expressing Final Wishes: Beyond financial and asset distribution, a will can also include your final wishes regarding funeral arrangements, burial, or cremation.

Overall, having a will provides peace of mind, knowing that your wishes will be honoured, and your loved ones will be taken care of according to your directives. To find out more about our professional will writing service, contact your local branch here.