It is probably the last thing on your mind after a divorce but if you have a will as a married person that will now need to be rewritten so that you can ensure your property and other assets go to those you want to inherit it.
Get your will drawn up professionally
Making a will is not a terribly cheering thought but it does ensure that your money and property go to the people you want to inherit from you. We strongly recommend that this is done professionally for all but the most simple of wills
Dying without a will (intestate) means that the government will step in and divide everything according to strict rules and could mean that children, friends and other beneficiaries may lose out. Making a will is a necessity and not an option.
Protect your children's future
Making a will also protects your children’s future as you can choose a legal guardian who would be responsible for their upbringing in the event of your death. You do need to get the permission of the person you nominate but if you don’t do this then it will be left to surviving relatives to make arrangements for them.
A will is particularly important if you have a disabled dependent as it will protect their inheritance through trusts and can ensure that they do not lose entitlement to state benefits.
You may need to consult an Independent Financial Adviser
If you have a lot of money you should take advice from an Independent Financial Adviser to ensure that your will is tax efficient and that as much of your estate as possible goes to your chosen legatees. As well as talking to an IFA it would be wise to have your will drawn up professionally to ensure that what you have decided to do is accurately and appropiately recorded in your will.
You must also appoint one or two executors whose job is to carry out your wishes. You will also need their permission before you nominate them.
Making your own will
It is possible to make a will without the help of a solicitor but you may come unstuck if you are not careful and it is not a good idea to leave something so important to chance. We have a great self help kit to help you with the complexities of writing your own will.