Preparing a Will
It's a subject that many of us don't like to talk about, but the importance of writing a Will and keeping it up to date should never be underestimated.
Why make a will?
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Decide who inherits your possessions, property and money
Without a Will the government decides this for you, according to the Laws of Intestacy which were drawn up in the 1920's. This means that your spouse or civil partner might end up sharing your wealth with your children or parents, and it almost certainly means that your partner may get nothing at all if you are unmarried. -
Use Will Trusts to your advantage and help future Inheritors
The benefit of holding the assets in a Will Trust is that it ensures a large Inheritance Tax (IHT) bill doesn't burden future inheritors. -
Appoint Guardians for young children
Nominating specific Guardians in your Will to look after young children is very important - and if you don't the authorities will do so on your behalf, which is very unlikely to coincide with your wishes. -
Set up Trusts for the benefit of children or to protect funds from being wasted
Basic terms can be put in place to prevent the beneficiary wasting the money or assets you have given to them, or to make financial provision for mentally disabled or handicapped children. -
Leave a legacy to Charity or make a provision for a family pet
Anything left to charity would be free of tax! -
Make provision for your funeral
You may have specific ideas about what you would like to happen when you die.
Beware of "free" Wills
You may notice that some companies offer to write your Will for free, but you should look into this carefully, as there may be underlying small print. The company may, for example, impose a probate charge, i.e. take a percentage of the value of your estate for handling your Will, which could end up costing considerably more than expected. The benefit of our service is that we charge a Fixed Fee.
Already got a Will?
When your Will has been written, it's important to make sure it's kept up to date. You may need to change your Will if your circumstances change i.e. equity release, 2nd marriage, additional grandchildren etc, or if you are lucky enough to receive an unexpected windfall.
Why choose us?
To ensure that your assets are distributed according to your wishes, we have a service which has been designed to take the hassle out of planning for the future.
- Create a Will quickly and easily over the phone
- Set up a Lasting Power of Attorney
- Your completed documents are sent through the post without the need to visit a solicitor or even leave your home
- Opt for our secure Document Security facility and a get a free annual update, plus enjoy other services such as access to free legal, tax and medical helplines.
Contact us on 0800 915 0405 for more information and one of our specialists will be happy to help.
These pages give a general overview of the issues surrounding Estate Planning and are based on our understanding of the current laws and tax regulation for England & Wales, which may be subject to change. They are not intended to give advice and you should seek professional advice when planning your estate.
