Ten good reasons you need to make a Will
1. You care about your family but what happens to your property after you die? A Will is the only way to be sure that your wishes will be carried out. Without a Will your assets will be divided between specified blood relatives – not necessarily in the order or to the persons you would wish.
2. If you are not married or in a civil partnership it is particularly important to make a Will. The law does not automatically recognise partners. Even if you have lived together for many years, your partner may be left with nothing.
3. A Will avoids disputes over who will deal with your estate. By choosing your own executors, you make it easier for all those left behind.
4. A Will is vital if you have children or dependants who may be unable to care for themselves. You can appoint a guardian to look after young children and decide on their upbringing and education. Finance can be made available – or withheld until such age as your chosen beneficiaries are capable of using it wisely.
5. A Will can incorporate significant Inheritance Tax saving advantages, particularly if you have business assets or are involved in agriculture.
6. Are you involved in a family business, company or partnership? If so, it is essential that your Will dovetails into the succession terms of your business structure. Any mis-match can prove disastrous.
7. While discussing your Will, we may be able to identify immediate courses of action to protect your wealth and reduce your tax exposure. We provide a specialist service in the creation, administration, variation and eventual winding up of trusts as well as offering a personal and sensitive approach to dealing with Probate and the administration of Estates.
8. Changing personal and financial circumstances may mean that older wills have become outdated. Changes in the tax regime may also have an impact.
9. Your assets can be protected from the impact of Care Home Fees. We can also provide legal solutions to the increasing problem of loss of mental capacity.
10. Above all else, settling your Will ensures your peace of mind. It is advisable to review your Will at least once every 5 years.
For further information, please contact Juliet Hibbert or Karen Hyde