This is the second in a series of features sponsored by Walter Gray & Co to guide you through a few common legal issues and how Island firm Walter Gray can help you with them.
There are two common misconceptions about Wills.
The first, that they are only for the wealthy and the other, that they’re only for those who are getting on in years. Both couldn’t be more wrong.
Having a Will written is actually an act of kindness – making sure that those who are left behind after a death not only have a minimum amount of fuss to deal with, but that any money left for them isn’t taken up by unnecessary legal bills.
Where there’s a Will, there’s a way
Anyone who has lost someone close to them will know what a blur the whole process is, once you hear the sad news. The last thing anyone wants after a shocking event like that to have to sort out extra arrangements, or worse, fighting a legal battle and the expense that brings.
Not married or your partner has been separated?
In law, there’s no such thing as a Common-Law husband or wife and because of that, if you’re not married to the person that you live with – even if you’ve lived together for 30+ years – you’re not entitled to anything.
If your partner is separated but not divorced from their spouse, that estranged partner will be entitled to anything that’s left, not you.
It’s only by having a Will in place, naming you, would you ensure that those problems do not arise.
Children
If you have children, it’s simple, you should have a Will.
It’s nothing to do with if you do or don’t have money for them to inherit. It’s about you having a say in what happens to them after you’re gone.
A Will gives you the opportunity to specify what you would like to happen to them if you and their other parent were to die.
Without a Will, it could be a Court that decides who will look after them.
Keep it up to date
If circumstances change in your life, divorce, marriage, new children, make sure you do a quick update to your will to cater for those changes.
You may be pleasantly surprised to hear that having a Will written is less expensive than you think – £125 + VAT for a single one, or £195 + VAT if a couple have two done at the same time. Very occasionally prices may rise with added complications.
Get in touch with Walter Gray
Further details can be found at their Website or by contacting their main offices.
3-4 St Thomas Street
Ryde
Isle of Wight
PO33 2ND
01983 563 765
[email protected]
Baring Chambers
13 Denmark Road
Cowes
Isle of Wight
PO31 7SY
01983 563 765
[email protected]
Please give Walter Gray & Co your business if you can. By them and other companies sponsoring features and taking advertising, you’re able to continue to read VentnorBlog for free – Ed
Image: Linda Cronin under CC BY 2.0
