WHY MAKE A WILL?
A Will ensures that your estate is dealt with the way you want after your death.
A Will lets you provide for your loved ones - who may not otherwise be entitled to anything from your estate.
A Will plans for your future.
The Executor is the person you appoint to deal with all your affairs after your death. It is an important role and so it is essential that you appoint someone you trust and who you know ill be able to deal with the estate at a difficult time.
The beneficiaries are the people you want to leave part of your estate to.
If you have young children, you can appoint guardians who will make those important decisions affecting your child's future in your place.
Wills aren't just for the elderly. Young people need to make sure that their loved ones get what they may be entitled to automatically.
An unmarried couple benefits.....
Your estates do not pass automatically to each other. Making a Will ensures that you can provide for your partner.
A single parent benefits.....
A Will can appoint guardians who take care of your children without bureaucracy getting involved after a parent's death.
A married couple benefits.....
Tax planning ensures that the most is made of the assets you have to stop the being reduced by inheritance tax.
Single people benefit.....
You may not think you have much to leave - but leave it where you want it to go. Family, friends, charity...?
IF YOU HAVEN'T GOT ONE...
Dying without leaving a Will is known as dying intestate. Intestacy rules set out a strict order of entitlement for who is to benefit when there is no Will. These may not be the people you'd choose.
These rules mean that the Law decides how much of your estate will pass to which of your relatives. It also means that if you do not have any family, the Government will inherit everything that you have.
CHANGING YOUR WILL
Wills need to be reviewed regularly to make sure that they still reflect your wishes and that they are up to date.
A Will can be changed at any time, but the original document should never be amended in any way as this may make the Will invalid.
If you marry, divorce, have children, win the lottery, or if a named executor, guardian or beneficiary dies, then you should consider amending your Will.
AT YOUR APPOINTMENT
When you see a solicitor they will need some information in relation to the people to be included in your Will - ie full names and addresses of executors, beneficiaries and guardians and approximate values of your property, so that tax planning can be discussed if necessary.
For any further information call Gill Turner on 01226 210777.