What is a Will and its importance?
What is a Will?
A Will is the only legally binding document which allows you to name the people that you’d like to look after your affairs, it also sets out who is to benefit from your property and possessions (your estate) after your death. Without a Will your wishes will not be respected and your estate will be distributed in accordance with the law.
Why is it important to make one?
Ensuring you have a valid and up to date Will is the most important way to ensure your wishes for the future are protected. Without a valid Will your home and other assets may not automatically pass to your next of kin.
What is included in a Will?
– How your assets should be shared
– Arrangements to ensure your partner is looked after
– Put in place appropriate trust if applicable for the long term benefit of your beneficiaries
– Make provisions to ensure you are not paying more inheritance Tax than you should be
– Your directions as to who will carfare your children or anyone else you legally responsible
A Will can be incredibly straightforward, yet a staggering 70% of people in the UK do not have a Will which accurately reflects their personal and financial circumstances. If you would like a free initial consultation to discuss the creation of you and/or your partners Will, please feel free to contact us on 01202 802807.