The holiday season repeatedly sees an influx of clients rushing to get their wills in order. Whilst going on leave should not evoke fear of the future, if you are someone looking to get your will in order doing it sooner rather than later will save you the hassle, leaving you to relax on the beach with peace of mind. In this article, we explore five reasons why setting up your will before going on holiday is vital for your peace of mind and the well-being of your loved ones.
- Protect your belongings and assets:The purpose of a will is to ensure the distribution you want for your beneficiaries after your passing so that your hard-earned possessions go to the people you care about the most instead of being subject to the laws of intestacy. The Rules of Intestacy mean that your spouse, children, and relatives will inherit your estate under strict order of priority, this leaves the unfortunate chance of those whom you wanted to inherit from you, missing out. Stepchildren and cohabitees are often the ones to lose out in circumstances such as these.
- Care for dependants:If you have young ones or elderly family members that rely on you, your will can designate guardianship if something happens to you. This enables proper care and support for your loved ones even in your absence.
- Avoiding family disputes:Without a will in place, there is the possibility of conflict between your beneficiaries. With your will in place, you minimize the chance of stress and disagreement for your loved ones during a difficult time.
- Preparing against the unexpected: Think of setting up a will as getting your travel insurance ready, whilst the risk at first may seem minor, being able to go on holiday with total peace of mind is the goal. Holidays are meant to be a chance for you and the family to relax, connect and escape but accidents, illness, and natural disasters can occur at any time. Setting up a will acts as a contingency plan that will allow you to truly sit back and relax.
- Designating executors: appointing someone you trust to manage the distribution of your assets and all the legal proceedings ensures that your affairs are carried out according to your wishes.
Whilst preparing a will might seem like the last thing you want to do on your holiday checklist, it is the responsible and caring thing to do. Setting up your will ensures your loved ones will be cared for, your assets will be distributed as you would like, and your family is not left with the burden of uncertainty or dispute. Remember that life is unpredictable and setting up a will is a simple and sensible thing to do before setting off on your next adventure.
Our specialist Private Client team here at Lamb Brooks make setting up a Will as easy as thinking about your next getaway.