Owning a property is one of the biggest financial commitments you'll ever make, and with it comes responsibility—not just in the day-to-day, but in planning for the future. One essential step that can get overlooked is ensuring that your property is properly accounted for in your will. Without it, the future of your home could be left uncertain.
What Happens if You Don’t Have a Will?
Under the laws of intestacy, if you die without a will, your estate—including your property—will be distributed according to a set legal process. For unmarried couples, this could be particularly devastating. If your partner is not named in your will, they could be forced to sell the home or be left without a claim to your stake of the property. In some cases, this can lead to emotional and financial hardships at an already difficult time.
Why Updating Your Will is Essential
Whether you've just bought your first home or have owned your property for years, keeping your will up to date ensures that your assets are passed on as you wish. Your home is likely one of your most valuable assets, so it’s critical to clearly outline what happens to it in the event of your passing.
Life changes such as marriage, having children, or purchasing a new home are pivotal moments to review and update your will. The government recommends doing this every five years to avoid any potential disputes or complications later on. Regular updates will give you peace of mind, knowing your loved ones are protected and your wishes will be carried out.
Protecting Your Future
By keeping your will current, you're taking a proactive step to safeguard your family's future. If you haven't reviewed your will in a while or if you've recently experienced a life change, now’s the time to act. Get in touch with us, and we can refer you to one of our trusted partners to help ensure your will reflects your wishes and protects your property.
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