7 Reasons You Really Ought to Make a Will
7 Reasons You Really Ought to Make a Will…
A properly drafted will can achieve a number of benefits and avoid stressful, expensive pitfalls:-
1. Without a valid will your assets will be distributed to your closest surviving relatives according to a law known as ‘the intestacy rules “, which may not reflect how you would like your assets to be shared out. A valid will provides you with certainty in respect of your wishes.
2. If you are not married or in a registered civil partnership, your partner will not inherit your assets (estate) unless you have a valid will in place. Financial problems can arise for the surviving partner.
3. If both parents die, a valid will enables you to appoint someone of your choice to look after your children if they are under the age of 18. You can also make financial arrangements for their benefit.
4. The absence of a will can sometimes lead to family disputes. The law allows certain individuals to make claims against the deceased’s assets and this is becoming more and more commonplace. Even if the deceased never intended to leave an individual any money or assets, they can still make a claim.
5. Valid wills can help with tax planning and may reduce the amount of inheritance tax your family will have to pay.
6. It enables you to leave specific gift to individuals or charities, such as items of jewellery or sums of money.
7. If you have remarried, a will can ensure that the children from your first marriage receive a share of your assets.
Our wills are always fixed-fee and you are advised of our costs from the outset. We offer home visits for the elderly or infirm who may struggle to attend the office and we can review your will for free to advise you whether or not it should be updated.
