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The Necessity of Having a Valid Will

The Necessity of Having a Valid Will

The Necessity of Having a Valid Will

Experts estimate that almost two thirds of people have not made a Will - whether because they don't like the idea of facing their mortality or because they assume that the law will make sure that their family are taken care of.Taking time to make a Will means that you can control how your assets will be distributed and make sure that the people you wish to take care of receive adequate provision.Most people do not realise that if you are married and you die without a Will, your spouse might not end up inheriting your entire estate. What would be worse is that your loved ones start to quarrel over the distribution of your estate - by making a claim on inheritance.The law of Intestacy (dying without a Will) dictates what should happen to your estate. Where you die leaving a spouse but no children, your spouse will only inherit the first 200,00 of your assets (this excludes any assets owned as joint tenants) the remainder of your assets will be divided between your spouse and other relatives such as parents, brother and sisters and nieces and nephews.If you die intestate but leave behind a spouse and offspring, your spouse will receive the first
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