Why Writing a Will is Important (Partnership with LIVES Lincolnshire)Pepperells
We’ve partnered with LIVES (Lincolnshire Integrated Voluntary Emergency Service) to create a project encouraging more people in Lincolnshire to consider leaving a gift in their will to support the ongoing work of LIVES. LIVES are a well-known and well-loved charity in Lincolnshire and it has been a pleasure working with them on this project.
LIVES sat down with our Trainee Solicitor Charlotte, to discuss the importance of leaving a legacy.
What is a legacy?
A legacy is a gift of a fixed sum of money or item to a person, place or charity. Common examples of this are: a cash sum, family jewellery that you leave down to a relative or a book collection to a library.
Who would need to write a will? And why?
Here at Pepperells Solicitors, we would suggest that everybody should have a will in place. It doesn’t matter if you rent your home, own a home, or whether your only asset is your bank account you need to say where your assets or estate go when you pass away.
Making a will is a really simple process, however there are some certain important legal factors to consider to ensure you have a valid will. Here at Pepperells were happy to guide you trough this process to ensure we have the right will in place for you. certain things we will consider with you about your will at your appointment are:
- Appointment of executors
- Whether you need to include guardians within the will
- Whether you wish to leave any legacies to family members/friends/charities
- Who you want your main beneficiaries to be
- Any include funeral preferences
Wills are really individual and specific to your needs, so we advise you come and see a professional so you get the right will in place for yourself and family.
What is an Executor?
An executor is the person you choose to appoint to administer your estate,. This role includes closure of bank accounts, selling houses if necessary, distribution of money and payment of any final bills.
What is a Guardian?
Within your will you can appoint a guardian to care for your children should yourself or anybody else with parental responsibilities no longer be around to care for them. It’s important to know that not everybody assumes the person you want to care for the children is the person that is appointed in your will. For example, it may not be suitable for the grandparents to care for the child due to age or personal circumstances, which might mean auntie or uncle had to undertake this role therefore it is really important that your wishes are reflected in relation to this aspect.
What are Beneficiaries?
Within your will, you choose your beneficiaries. These are the people you would like to receive your residuary estate. Most commonly, people choose to leave their estate to spouses partners and children. Within your will, we are able to make provision’s for multiple generations and worse case scenarios.
Should I Include Funeral Plans?
Within your will you can outline your funeral wishes. This can be as simple as a wish to be buried or cremated. Outlining this wish can avoid discussions with family members that you might not want to have at this stage but enable that family member or executives to carry out one final wish for you.
If you would like to leave a legacy gift in your Will, please get in touch and arrange a free, no obligation conversation with our experts. Pepperells have friendly, knowledgeable teams who can offer face-to-face, video call appointments and a discrete live chat.