Why you should write a will

Wills and associated documents are often referred to as ‘Estate Plans’.  The word estate simply means everything you personally own when you die.  A Will is a key part of this as it sets how your money and valuable possessions are distributed after you die. Without a Will there is no guarantee your money or valuables will be passed on to your loved ones in the way that you wish.

Having an estate plan can help:

Apart from the reasons described above, we believe that one of the most important reasons for leaving a valid Will is that it ensures your loved ones are not left with a difficult, time consuming and sometimes costly situation where no will has been drafted.  The lack of a Will can create family disputes and anxiety caused by financial hardship when assets cannot be distributed quickly to dependents.

Even if you think you don’t have much to leave, and expect it to all go to your spouse/partner.

A valid will ensures:

1. Possessions

Your possessions go to the people you want them to.

2. Responsibility

Who will be responsible for winding up your affairs and making things easier for them.

3. Children

            Who will look after your children while they are still minors.

4. Reducing Disagreements

A reduced risk of family disagreements.

5. Taxes

Minimising the effect of taxes.

6. Funeral Preferences

The family knowing what your funeral preferences are.

Without a Will, the law says who gets what

The Courts will appoint an Administrator to deal with your estate and decide who will look after your minor children (who may have to go into Local Authority care until that happens).

If you are not married or in a civil Partnership, then without a Will, your partner would not be entitled to receive any of your belongings when you die.  He/she would have to go to court and prove financial dependence in order to get anything at all.

We can help you make proper arrangements for your dependents and to provide for other relatives, friends and favourite causes that would get nothing without a Will.

We will give guidance on the appointment of guardians, trustees and executors.

Inheritance Tax is becoming relevant to more and more people due to the rising value of their property and other possessions.  We can help you prepare for this eventuality by advising on how your estate can best be protected.

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