Why Oxford residents should make a Will
Who needs to make a Will?
You should make a Will if you want to ensure that your assets pass how you want them to on your death. By making a Will you can also choose your executors, so the people responsible for carrying out the instructions in your Will and ensuring that your estate is administered correctly.
If you have not made a Will the intestacy rules will apply. They may not align with your wishes. The intestacy rules do not recognise partners, who are unmarried, so it is important that if you want to provide for your partner, that you make a Will.
When should I make my Will?
Once you are over the age of 18 you can make a Will. You don’t need to have substantial assets, like property, to make a Will. It’s still important to make a Will if you have, for example, a car, savings or investments etc.
Can I change my Will?
Yes, provided you have mental capacity you can change your Will at any time.
We recommend that clients in Oxfordshire review their Will and update it in the event of major life changes such as marriage, children, divorce or significant changes in their assets.
What can I include in my Will?
In your Will you can:
- Appoint executors and trustees.
- Include funeral wishes.
- Appoint guardians for minor children.
- Leave cash amounts to family, friends or charities.
- Set out who you would like your personal items to go to.
- Set out who you would like to look after your pets.
- State who you would like to inherit the remainder of your estate.
Where should I keep my Will?
You should store your Will in a safe and secure place. If your Will is made with a Solicitor, they will usually store your Will for you at no charge; as our firm does.
For more information on how we can help you, please contact Alison Craggs in our Oxford office at alison.craggs@theburnsidepartnership.com.