Dying without a Will can make what is already a difficult time a lot harder for your family. Without a Will, you have no choice in how your estate is passed on. A properly written will can ensure that the people you cherish can benefit from your estate and can minimise the amount of inheritance tax paid.
Do you really need a Will?
In short, yes. Dying without a Will (or ‘intestate’) means your possessions will be distributed according to the law of intestacy. Some things you may not know about the intestacy laws:
- Husbands and wives are NOT automatically entitled to inherit everything from each other
- If you are not married or in a civil partnership you partner will not inherit from you
- Your children may be able to enforce the sale of the family home, even if your spouse is living there
- Social services will choose who will look after your children, including allocating them to foster parents
- You will pay the maximum amount of inheritance tax due
What can be written in a Will?
- You can nominate Guardians to look after any children under 18 years of age
- Appoint Executors to carry out your final wishes
- Name who you like to benefit such as charities or family from your Will
- Leave gifts to individuals or charities
- Create Trusts to care for your estate whilst children grow up
Do you already have a Will?
Wills should be reviewed regularly. Ask yourself the following questions:
- Is it up to date and relevant?
- Does it still say what you want it to say?
- Does it protect your home from care costs?
- Does it minimise your liability to inheritance tax?
- Does it protect your children if your partner remarries?
If it doesn’t, contact us today.
How much do your Wills Cost?
A single Will starts from £150. A set of mirrored Wills start from £250.
We also offer a Will storage service.