A Will isn’t effective until your death, this means that you can change it as many times as you wish, whilst you have mental capacity to make the Will. A Will helps to protect your estate after your death and may help to protect your estate from any claims from other people and also the government. If you don’t have a Will, you have no control over where your estate goes, especially if you have a long term partner that you haven’t married.
Depending on what type of Will you have, they could also protect your beneficiaries and your spouse or partner after your death. Documents such as a Protective Will Property Trust (PWPT) can help to protect your share of your home from falling into the wrong hands upon your death and will allow your spouse or partner to remain living in your home until their death. A Discretionary Will Trust can also help protect your beneficiaries if they are vulnerable or if they are going through a tough time at the time of your death or at any time afterwards, this is because your Executors and Trustees will remain in charge of your estate and their inheritance after your death and they will be able to act in your beneficiaries’ best interests at that given time.
If you would like further information regarding how a Will can protect your estate and your beneficiaries after your death, please contact us.