Why do I need a Will?
We spend thousands of pounds on various types of insurance yet are often unwilling to spend an hour or so of our time to ensure that the assets accumulated over a life-time are secured for those we care about most.
So why do I need a Will?
In short a Will allows you to do things that would not be possible if you were to die intestate (without a will). A professionally produced Will can specify the people who will administer your estate, give directions to your executors as to what is to happen to specific assets, achieve desired tax and estate planning objectives. It can also protect your assets from being used to pay for Long Term Care fees and indicate who should be the custodians of your young children.
What happens if I die without a Will?
- If you die without making a will, then the Intestacy Rules would apply.
- If you are cohabiting, your lifetime partner could end up with nothing. Even evicted from the home you share.
- If you have children from a previous relationship, they could end up with nothing.
- If you have a vulnerable child, the inheritance they receive could be at risk from those who might take advantage of them.
- If your spouse or partner marries after your death, your children could receive nothing.
- If you have no Will in place the granting of probate and general administration of the estate can take months and sometimes years and is invariably a great deal more expensive.
- If you don’t make a Will then you will have no control over who will inherit what you own.
With proper advice, your lifetime’s work can be protected for the people you care about. It just takes about an hour and then it is done, allowing you to get on with your life safe in the knowledge you have completed your Will.
Contact us now to arrange a FREE, no obligation consultation.