Most of us appreciate how important it is to make a Will, yet a staggering 70% of adults in the UK fail to do so! People overlook it for a number of reasons, from believing they don’t have a big enough estate to not wanting to face up to their mortality. More often than not people put off making a Will saying that they will get round to it at some more convenient time when they are less busy. That time never comes and then one day it is too late.
I will do everything in my power to ensure you end up with a Will that is perfect for you. I will spend as much time as necessary getting to know you, to understand who and what is important to you and what you want to achieve with this all so important document. A Will is about so much more than leaving money to beneficiaries. Through your Will we can do any of the following:-
- Appoint a guardian for any children under the age of 18 years and through the use of an aside letter of wishes, set out how you would like your children to be raised including preferences on education, values, sport, diet etc.
- Appoint Trustees to manage the inheritance of underage beneficiaries including your children and grandchildren.
- Specify at what age you would like children and grandchildren (and any other underage beneficiaries) to inherit. Without a Will they would inherit at 18 but with a Will you could extend this to 21 or 25 or even later.
- Express your funeral wishes in as much detail as you would like.
- Deal with the distribution of sentimental and valuable personal belongings.
- Set out clearly what should happen to any pets you have, and leave a set amount of money to a named individual for the purpose of caring for and re-homing those pets.
- Use your Will to mitigate Inheritance Tax.
- Use your Will (by opting for an “Asset Protection Will”) to ring fence assets to ensure that they pass to your intended beneficiaries instead of passing to the Local Authority to pay for care fees or to the new spouse of your widow or widower.
I would urge you not to leave things to chance and make sure you always have an up to date Will fully reflecting your wishes at the present time. Those wishes often change which is why renewing your Will is just as important as making a Will in the first place.
Even if you believe that your Will is fully up to date and as accurate as it can be, it is always worth reviewing your Will every five years. Perhaps consider speaking to an expert to make sure it can’t be improved in any way. I would be happy to help you with this process.
