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Thinking about death can be upsetting and in particular, discussing what will happen when you die with your loved ones can be very difficult.
However, failure to make a Will can have serious consequences because your assets may not be distributed in the way that you wish them to be. It is therefore vital that you make a Will to ensure the distribution of your assets to protect your loved ones’ futures.
By making a Will, you can ensure that all of your affairs are dealt with, specifically:
- Everything you own passes to the person you wish to inherit your assets
- The people administering your estate (Probate) are the ones you have chosen and trust
- You can appoint the person whom you wish to be guardian if you have children
- If your children are due to inherit your estate you can decide at what age they inherit
- The amount of Inheritance Tax payable is minimised
- Any other special instructions can also be included, such as funeral wishes and specific gifts
By making a Will you can help protect your family’s inheritance and guarantee that your wishes are carried out. We recommend that you review your Will every five years as a minimum and also when your circumstances change (for example, you have children, upon marriage or divorce or when moving house).
If you are thinking about making a Will, but are worried about how to go about it, our dedicated team of specialists will guide you through all the important decisions you need to make and our practical and friendly approach will explain clearly what you need to do.
Individuals of the Private Client team are members of The Society of Trust and Estate Practitioners (STEP) and Solicitors for the Elderly (SFE), both of which are specialist organisations.