Will You Write the Will?
There are many reasons to make a will, including:
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- Control your estate: You can decide who receives your assets and possessions, such as your property, savings, investments, and insurance funds.
- Reduce stress for your loved ones: A will can help reduce the stress and arrangements that your family and friends need to make after you die.
- Avoid arguments: A will can help prevent family arguments by clearly stating your wishes.
- Avoid intestacy rules: If you die without a will, the law will decide how your estate is divided, which may not be what you want.
- Reduce Inheritance Tax: You can help reduce the amount of Inheritance Tax you pay by making a will.
- Support charities: You can leave a gift to a charity in your will.
- Care for your pets: You can include provisions in your will for who should care for your pets.
- Manage digital assets: You can name a digital executor to manage your online accounts, digital files, and other digital assets.
- Update your will: You can make an official alteration, called a “codicil”, or make a new will if your circumstances change.
You can write your own will, but you should get advice if it’s not straightforward. You’ll also need to get your will formally witnessed and signed to make it legally valid.
MitraSeva arranged for professionals to present information and offer advice in general so that the Mitras can make their own informed decision on the way to go about it. Future sessions will be updated in our event calander.