The majority of people write their Will with a view to benefiting their family and loved ones. However, the sad reality is that, where there are significant assets and large amounts of money, there can often end up being serious tension within a family and even severe arguments. With this in mind, Laura Richardson now takes you through some of the key reasons why it is considered to be beneficial to discuss the contents of your Will with your family in Gosfield . . .

Discussing the contents of your Will with your family in Gosfield (or anywhere else throughout Esses) may not sound very appealing! Some people consider their Will to be a private document; others consider talking about their financial situation to be rude or wish to keep this information protected. However, we at Andrew Douglas Wills and Legal Services have compiled some key reasons why discussing your Will with your family in Gosfield can be beneficial for both you and your loved ones –

  1. Making your wishes known means that, when you are gone, your family are not surprised by the contents of your Will. By alleviating any shocks, you will be aiding them during this distressing time.
  2. You may find out that actually your beneficiaries would rather you spent some of your savings in order to enjoy your retirement, or use it in later life to afford medical or respite care. Your family members may even have savings or investments of their own that you are not aware of, meaning they may not be in such need of their inheritance in the future.
  3. If you wish to appoint a Guardian for any children under 18 within your Will, it is vitally important that you discuss this with your chosen Guardian to ensure that they can provide for your children and are prepared to do so!
  4. If you are leaving gifts for grandchildren, it may be a good idea to discuss this with their parents. It may be that they feel that the gifts should be inherited by the grandchildren at a specified time in their life, or passed down to the parents first depending upon the nature of the gift.
  5. Issues between siblings are common when it comes to inheritance. Perhaps you wish to gift more money to one child because they have children of their own to provide for, however it may well be that they would prefer an equal share so as not to cause any family tension after your death.
  6. Overall, by discussing your wishes openly, you will be able to explain why you have made certain decisions. Once you are gone, your beneficiaries could be left confused or upset by certain decisions within your Will. It may be beneficial to explain any decisions that could cause upset, or could seem unjustified.

Whether or not you discuss the contents of your Will with your family in Gosfield is a personal decision. We at Andrew Douglas Wills and Legal Services would be happy to hear from you if you wish to discuss any aspect of your Will in Gosfield or anywhere else throughout Essex with a view to booking a consultation.

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