Why every adult should have a legally prepared will
Did you know that dying without a will — known as dying intestate — means the state decides who receives your assets?
A properly prepared legal will ensures your wishes are respected and your loved ones are protected. Here’s what you need to know:
- Plan your estate: List your assets, debts, and decide who should inherit them.
- Appoint an executor: Choose someone responsible to carry out your wishes.
- Name a guardian: If you have young children, this is critical.
- Avoid disputes: A clear, legal document reduces stress and legal battles.
- Include special wishes: Charitable donations, funeral instructions, or testamentary trusts can all be added.
- Review regularly: Update your will after key life events (marriage, divorce, children, new property).
- Store it safely: Keep it with your solicitor or in a secure location.
No will? It could mean:
- Assets going to the wrong people
- Costly legal fees and delays
- No legal guardian for children
- No provision for your partner if not legally married
- Missed charitable intentions
- Business succession chaos
- Possible higher taxes on your estate
💡 Tip: Consider preparing a Power of Attorney and Advance Health Directive at the same time to cover financial and medical decisions if you become incapacitated.
Need help or advice on estate planning? Contact your local Success Tax Professionals office — we’re here to help you protect what matters most.
Posted in Personal finance