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Safeguard your wealth and assets for the future of your loved ones. 

Secure lasting peace of mind by creating your will today.

What Happens if You Die Without a Will?

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Minimize unnecessary pain and heartbreak and to ensure the financial well-being of your family and loved ones even after your demise.

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The importance of creating a will

Have you thought about what will happen to your possessions and assets after you’re gone? Many people avoid creating a will because they find it daunting or because they don’t feel the need to create one. However, creating a will is important for several reasons. 

Without a will, your assets may not end up in the hands of the people you want them to, and your loved ones could face difficulties. Trusted Will Writing Durham with our experience will be discussing what happens if you die without a will.

Intestacy rules

When someone dies without a will, they are said to have died “intestate.” In such cases, the laws of the land will determine who inherits the person’s estate. These laws are known as intestacy rules. Intestacy rules can vary depending on the country or state, but there are some similarities. Generally, these rules prioritize close family members like surviving spouses, children, and parents.

If there are no surviving family members, the assets may go to the government. At trusted Will Writing Durham we can stop this from happening, call now.

Probate

Probate is a court process that distributes a person’s assets to their heirs after they die.

When someone dies without a will, the process can become complicated. This is because there is no clear indication of who should inherit what. The court may have to determine the beneficiaries, and this could take time and lead to additional legal fees

Additionally, some assets may pass outside of probate, such as life insurance policies, meaning the beneficiaries listed on those policies may receive the proceeds regardless of what the will (or lack thereof) says.

Inheritance tax

Inheritance tax, also known as estate tax, is the tax that some countries and states require estates to pay before assets can be distributed to heirs. The amount of inheritance tax owed can vary depending on the size of the estate and the jurisdiction that the estate falls under.

 Without a will, there may be confusion as to who should pay this tax, and the distribution of assets may be delayed until the tax is paid.

Dealing with disputes

A lack of a will can lead to disputes arising between family members. This is especially true when there are many beneficiaries or when there is a significant amount of money or assets to inherit. These disputes can lead to legal battles and result in time-consuming and costly court proceedings. It’s essential to create a will to avoid as much conflict as possible.

Pets

If you’re a pet owner, it’s important to include them in your will. This is because pets are considered property, and they could be left without a home if you do not specify what happens to them.

 In your will, you can assign a guardian or caregiver for your pets, ensuring they are well taken care of even after you’re gone. Contact Trusted Will Writing Durham today

3 Reasons You Need to Act Now

Ensure Your Wishes are Respected
Without a will, your assets will be distributed according to the laws of intestacy. This means that your possessions may not go to the people you would have chosen had you written a will. By drafting a will, you can specify exactly who you want to benefit from your estate and how your possessions should be distributed. This can also be a particularly important consideration if you have dependents or a partner to consider.

Minimise Stress and Conflict for Your Loved Ones

If you die without a will, it can create additional stress and logistical challenges for your loved ones at an already emotionally difficult time. The absence of a will can mean that multiple family members may lay claim to your assets, leading to disputes and legal challenges. Having a will in place can help minimise these issues by providing legal clarity over the distribution of your assets. Get in touch today with Trusted Will Writing Durham.

Protect Your Children's Future

If you have dependents such as children or grandchildren, making a will is essential to protect their future. A will allows you to appoint a guardian to look after your children if you die while they are still minors. This can be a significant relief for parents who want to ensure their children will be cared for if the worst happens.

Making a will is something everyone should consider, regardless of their age or financial situation. Your will not only ensures your loved ones are cared for in the way you wish, but it can also minimise stress and legal wrangling for your family and ultimately provide clarity for the distribution of your assets. 

Don’t put off making a will any longer- doing so can only serve to create unnecessary stress and complications for yourself and your loved ones.

Why Choose Trusted
Will Writing Durham?

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Experience simple and transparent pricing, with no unexpected bills or surprises. Benefit from safe and up-to-date filing options for easy accessibility. Take advantage of a free consultation with Trusted Will writing Durham. Secure your family’s future today.

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