Making a will is crucial in guaranteeing that your needs are fulfilled after your passing, and wills solicitors in Swansea can assist you in safeguarding your assets by drafting a last will and testament.
However, it is not enough to just create a will; you must also inform your loved ones of its contents. In this article, we will be examining the appropriate time for families to have a discussion about wills.
What is a Will?
A last will and testament is a legal document which details what should happen when you pass away. The contents of this document may include your wishes with respect to your remains.
For instance, whether you wish to be buried or cremated, instructions for your funeral and how your assets should be distributed.
If you pass away without creating a will this is known as dying intestate and this can lead to a long drawn out probate process which can have a negative impact on family relationships as well as any businesses which you may own or co-own.
Why discuss your will with your loved ones?
There are a few good reasons for discussing the contents of your will with your family and friends and we’ll look at some of these reasons in this section:
Avoiding nasty surprises
In some instances, an individual may assume that they are going to receive a particular asset when a loved one passes away. For example, an only child might assume that they will inherit a parent’s house in the event of their death.
If this is not in fact the case, it can come as a shock and can cause arguments and resentment – particularly if the reasons for this decision are not made clear.
Avoiding ambiguity
Discussing the contents of your will with your family as a group can help to eliminate any doubt as to your wishes as this essentially provides witnesses to your intentions in addition to the legal document.
This can also help to prevent arguments amongst your loved ones after your death.
Peace of mind
Losing a loved one can be emotionally devastating as family members are left to make arrangements whilst grieving.
Having a conversation about your will can help to give your loved ones peace of mind when the time comes as they will be aware that they will have access to your wishes and instructions.
When is the right time for families to discuss wills?
Gathering the family to discuss your will is rarely an occasion to look forward to – but it is an important one. Choosing the right time is, of course, an individual decision but there are a few key life moments which provide an ideal opportunity, and we’ll look at some of these in this section:
- The birth of a grandchild – When you become a grandparent, it’s likely that you will choose to amend your will to include this new addition to the family. This is a great opportunity to speak to your loved ones about your will and to assure them that further grandchildren will also be included.
- A serious illness – Being diagnosed with a serious illness is scary and stressful and often prompts people to create or update their will to make sure that everything is in order should they not recover. While this is a difficult conversation to have with loved ones, it may help to ease their minds if they know that you have put all your ducks in a row.
- A change of circumstances – As you enter retirement, you may choose to change your circumstances; for example, you might decide to downsize your home to a smaller property in order to free up capital. This presents a good opportunity to discuss these changes with your family and how the changes will affect your will.
While these are all good reasons for initiating the discussion with your loved ones you don’t, of course, need to have such a reason. You can begin the conversation at any time you choose – including when you first make your will.
Finding the appropriate moment
Discussing your will with your family is rarely an easy conversation and so it’s important to let them know beforehand so they can emotionally prepare.
Choosing a time when your family members are not busy and therefore don’t have to rush away at an appointed time and prepare yourself beforehand for some difficult questions.
It’s also a good idea to try to have the conversation without children present to avoid distractions. While the conversation may be upsetting for some of your family members, it will almost certainly make things less stressful for them when the time comes.
Disclosure: this is a collaborative post