Being a parent brings with it a whole range of tasks and things to think of; from worrying about the kids eating healthy enough, to arranging pick up from school or booking dentists appointments.
With this seemingly never ending list of things to do, it’s easy to put tasks such as making a will, to the back of your mind. Despite this, making a will is incredibly important as a parent. It will help to make sure your loved ones will be looked after if you pass away. The experts at Ellison Thomas solicitors have put together their guide to wills for parents and I’m sharing their tips with you today.
Why do you need a will?
A will is simply a legal document that outlines what you want to happen with any money or assets of yours should you die. If you have young children, you can also set out what you’d like to happen if you died suddenly. Such as who would have responsibility for them.
A will makes sure that you have control of what happens with these things after you die, rather than this being decided by your family members or a court.
How do I make a will?
Making a will isn’t a complicated or time-consuming process. You simply need to outline your wishes formally in writing, and sign this in the presence of two valid witnesses. It’s worth getting advice from a specialist solicitor who can help you draw up your will to make sure you haven’t missed any important details.
How do I know if my will is still valid?
If you’ve already got a will, it’s possible that it may need updating or may no longer be valid. Take a look at some common situations that may affect the validity of your will below.
You may wonder if your will can ‘expire’ or if it becomes invalid after a long period of time. This is not the case! If you’ve created a will, it will be valid until your death. Unless you update it or make an official amend (called a codicil).
Divorce or marriage
If you get divorced, your will remains valid. The only difference that will happen is that anything left to your former spouse will not be given, and will go back for distribution among other beneficiaries in your will.
If you have an existing will and get married, or get remarried following a divorce, your will is no longer valid. You’ll need to make a new will which outlines your wishes in order for it to be valid.
Change of address
People often wonder if their will becomes invalid when they change address. Luckily, this is not the case! Even if the address on your will differs from where you live, your will remains valid.
Hopefully, this guide has answered any questions you may have about wills, and will help you to be prepared for whatever the future may hold.