There are several reasons why it is a good idea to make a will in 2023:
A will allows you to specify how you want your assets to be distributed after your death. This can help to ensure that your wishes are carried out and that your loved ones are taken care of when you are not here on earth.
A will can help to avoid conflicts and disputes among your heirs. Without a will, the distribution of your assets will be determined by the law, which may not align with your wishes.
A will can also be used to appoint a guardian for minor children or pets that you have. A story once broke in which a dog inherited it all. When its owner, Ben Rea (UK) who died in May 1988 bequeathed the sum of £7-million ($12.5-million).
A will can be an important part of your overall estate plan, which can help to minimize taxes and other costs.
Making a will can provide peace of mind, knowing that your affairs are in order and that your loved ones will be taken care of.
It is especially important to make a will if you have a significant amount of assets, minor children, or a special needs dependent. Even if you don’t have a lot of assets, it is still a good idea to make a will to ensure that your wishes are carried out after your death.
If you have any queries about estate planning, please contact our specialist estate planning team on 020 3417 3859.
The information given here is intended for general information purposes only and should not be taken as legal advice.
