Benefits of having a Will

It's not easy to think about death - especially your own, and many people try to avoid thinking about it. But making a Will can be a very positive experience and it is the only way to be completely certain that your money, property and possessions will go to the people you love when you're no longer around to look after them. If you don't have a Will when you die your estate will be distributed according to the laws of intestacy.
 Click here to see our Intestacy chart - you might be surprised!

YOU can decide how your assets are shared out.....

CoinsYOU should be the person who decides who should benefit  from YOUR estate after your death. By writing a Will you can ensure that your loved ones are provided for and that your money and property are distributed according to YOUR wishes. 

If you're not married your partner will NOT automatically inherit your estate,  but if you have a Will you can make sure your partner is provided for. If you are separated or divorced you can specify in a Will who should inherit your money, property and possessions.

YOU can appoint Guardians to look after your children....

If you have children, it will be important to you to ensure that your children’s interests areProtect your children looked after in the event of your untimely death. You can appoint someone you trust to take on the role of Guardian(s) and be responsible for your children. A Will allows you to create a trust for your children. The trust will then deal with property inherited by the child, in addition to naming the trustee to manage the trust until your child reaches a nominated age.

It is, of course, advisable to consult the prospective guardians as to whether or not they are willing to act.

YOU can choose who administers your estate....

Administering an estate is a position of responsibility and it is important the task is carried out by someone you TRUST. If you don't have a Will executors will be chosen according to fixed rules and they may not be the people most suitable to act.

Since it is the Executors who have the responsibility for administering the estate, including the distribution of personal effects and the contents of the house and the sale of the house, it is of vital importance that the right person is chosen.

YOU can protect your home from long term care fees....

Protect your homeSome people are likely to require long term care in old age and around 50,000 homes a year are sold to meet these costs. Careful Will drafting, incorporating a Property Trust can help to protect some of your property and assets to ensure your loved ones inherit.

YOU can give gifts to those you care about....

Give a gift in your WillIn your Will you can give special items, money, personal possessions to those who are special to you. You can specify which of your children gets certain sentimental items or give a legacy to a close friend, a good neighbour or someone who wouldn't be looked after if you had no Will.

Inheritance Tax savings....

These days many more people's estates are over the Inheritance Tax threshold, mainly due to a steady increase in property prices. With careful Will drafting Inheritance Tax can be reduced or avoided altogether. 

Writing a Will provides an opportunity to assess your total assets and consider what steps can be taken to minimise the Inheritance Tax liability.

Your funeral wishes....

Within your Will you can make known your wishes for your funeral, for example, whether you want to be buried or cremated, where you want the funeral to take place, and any specific hymns or readings you would like included.

Donate to Charity....

In your Will you can include any legacy that you wish to leave to particular organisations or charities. This could be a specific amount of money or even a valuable item, for example a piece of jewellery. Any charitable donations you make in your Will are free from Inheritance Tax. Donate to Charity

 

Prevent delays....

Administering an estate is far quicker and cheaper where there is a Will than without.  If you do make a Will then the legal process in dealing with your affairs will be easier, and much less painful for those left behind.

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