WILLS
Every year, the Treasury collects in millions in unclaimed assets by people dying without a Will or a heir. It is not usually people’s preference to give more money to the government so why would you risk doing the same with all your lifetime’s work!?!
With today’s pace of life, modern families of stepchildren and co-habiting partners and rising disputes, there is a very important need to ensure you have a Valid Will in place.
WHAT IS A WILL?
A Wills essentially set out who you would like to benefit from your estate after you die. This could involve money, property, business assets, land or personal effects e.g. jewellery. Funeral wishes can be noted as well as structures put in place for care fee and inheritance tax planning.
Without a Will, you would die intestate and everything you leave behind will be dealt with according to legislation. This takes away your control and you could benefit the wrong people! Intestacy only recognises your nearest immediate blood relatives and not your other nearest and dearest.
WHY MAKE A WILL?
Anyone over the age of 18 can make a Will and it doesn’t matter how little or how much you own -you should still ensure that what you have passes to the people, charities or organisations of your choice.
None of us like to face our own mortality but making a Will today and reviewing your Will regularly will not only offer you peace of mind but also for your loved ones when the time comes.
You can also includes wishes for your funeral, Guardians for children and structures for your care needs / inheritance tax planning. Also specialist protection for vulnerable / disabled beneficiaries.
ONCE I’VE MADE A WILL CAN I FORGET ABOUT IT?
Absolutely not! Throughout life, circumstances constantly evolve, and it is important to keep your Will up to date. For example, did you know that the act of marriage cancels any existing Will!?! The rise and fall of house prices and investments and the receipt of inheritance can have a large impact on your own tax position? And divorce treats your former spouse as having predeceased you!?! All these twists and turn require professional guidance and support.
Making a Will should be seen as part of your car, home or life insurance – reviewed every year to ensure you’re getting the best deal!
WHAT TO DO NOW?
It is never too early to start planning for the future so contact our qualified and friendly Private Client team on 01943 461414 to make an appointment. The first step is usually the hardest!
Our Private Client department want to get to know you. They will listen to your circumstances and provide clear and uncomplicated advice tailored to your needs. Visits outside of the office can also be arranged for homes, hospitals, care homes or hospices.