Not many people think about writing a will until they are much older and past retirement age, but there are certain life events that should make you think about putting a will in place. If something should happen to you and you are no longer able to make decisions, either because you have passed away or because you have been injured, it makes sense to have a will in place so your wishes can be carried out in your absence. Here are the top three life events that should make you think about writing a will.
When you have children
If you have recently had children, you should make sure you have a will in place so that you can designate a carer for your children if anything should happen to you. If you don’t have any living relatives, you might want a close family friend to raise your children. Without a will, the local authorities will decide who they think is best to raise your children.
When you start a business
Many business owners will read plenty of articles about how to grow their business but sadly not many people make any plans for what should happen to the business if they are unable to run it anymore. If you want your business to thrive after you are gone, you should make sure you have specified who should take over your business and if it should be placed in a trust for the benefit of your family.
When you release a creative project
If you are an author, artist or songwriter and you release something of commercial value that you expect to collect royalties from, then you should write a will. If you don’t designate who should receive the profits from your work after you pass away, then this money can be claimed by the companies you work with rather than it going to your nearest and dearest.
If you aren’t sure how to write your will to make sure it is legally binding, you should consult with a reputable probate solicitors to help guide you. This infographic guide from Gorvins Manchester Solicitors, should help guide you how to write your first will.