After a lifetime of building up assets and working hard to help provide financial security, you want to make sure the right people benefit. However, unless your wishes are written down somewhere, how is anyone to know what they are?
Writing a will could therefore be one of the most important things you ever do. Without written evidence, your assets could end up in the hands of the wrong people – or even worse, in the hands of the Government.
Did you know?
If you do not make a will, the assets of your estate become subject to the laws of probate. This means, depending on the size of your estate:
Your spouse may not get everything you intend for them;
- Children may not get the share you desire – and step children will have no claim;
- 'Common law’ spouses may get nothing;
- Long estranged relatives could take a share even though you never speak;
- Close friends and favoured charities are left out;
- Personal items might need to be sold to raise funds for death duties; and
- The Government could end up with an unnecessary chunk in Inheritance Tax
Consequently, even for the most straightforward case, it is essential to put your plans in place long before they might actually be needed. The more planning you do, the better you can ensure your beneficiaries get what you desire for them - and a continual review will keep those plans up to date as your circumstances change.
We can offer a comprehensive estate planning and advice service which can make sure your every need is taken care of. Alongside basic will writing, we can also offer help setting up trusts and giving advice on tax planning to minimise any potential liability.
To take the first step towards securing your assets for the future, call us on the above number or use the form here.
The FCA do not regulate will writing.