The Importance of Having a Will
A
Will is a legal document that sets out what should happen to your money,
property, and possessions after you die. It allows you to choose who inherits
from you, appoint executors to manage your estate, and make specific
arrangements for loved ones.
Many
people believe that making a Will is only necessary later in life. However,
unexpected events can happen at any age. Putting a Will in place early ensures
that your assets are distributed according to your wishes and that your loved
ones are protected from unnecessary stress or legal complications.
What does a Will do?
✔️ Appoints Executors - Trusted people to carry out your wishes;✔️ Distributes Assets - Ensures your estate goes to the right people;
✔️ Makes Specific Gifts - Leave meaningful items or sums to loved ones or charities;
✔️ Protects Children - Appoint guardians and set up inheritance plans for minors.
If you die without a Will, your estate will be divided according to Scotland’s intestacy laws, which may not reflect your wishes.
• Unmarried partners have no automatic right to inherit;
• The law, not you, decides who receives what;
• Potential for family disputes or delays;
• Greater stress and cost for those you leave behind.
Common misconceptions
Some people assume a Will is a one-time task. In reality, it should be reviewed and updated after key life events like marriage, divorce, having children, or changes in finances.
And remember, Wills are important at any age, especially if you:
• Have children or dependants;
• Own property or savings;
• Have specific wishes about your possessions;
• Want to support a partner you are not married to.
Don’t wait to make your wishes known
Our next Ask the Expert session is on 24 June 2025, when Edward Danks, a solicitor with over 30-years’ experience, will be delighted to take any questions you may have on why a Will is essential for protecting yourself and your family.
To book a time with Edward to ask your question, contact us on:📩
asktheexpert@parissteele.com
Edward will be happy to provide initial advice, signpost you to additional sources of support or provide a fee quote for more in-depth assistance.