Why make a will?
Adam Smith, ORJ wills specialist, explains why it’s wise to make plans now rather than risk leaving things too late:
A will is a legally enforceable document that sets out your wishes concerning how your property is distributed after death. If you do not have a valid will when you pass, then all your property, savings, investments and other assets (collectively known as your estate) is shared out according to the ‘rules of intestacy’.
So let’s look at why it makes good sense to prepare a valid will:
- It makes life so much easier for those left behind.
If you leave a valid will you will save your loved ones a lot of time, stress and heartache at a very difficult time. Once you have written down exactly what you want to happen to your estate, it makes it as straightforward as possible to share out the proceeds of your property, savings and belongings.
- You might not like the alternative…
If you don’t make a will then the state takes control of everything that’s yours – and shares it all out according to the standard laws of intestacy. This may not reflect your personal wishes – but by then it will be too late!
- Avoid unnecessary tax
Depending on the value of your home and investments, your estate may be subject to inheritance tax. That means the taxman can take 40p in every pound you have, over a certain threshold. By making a will you can minimise the amount of tax paid on the property and money you leave behind.
- Think of the kids….
If you have children or other dependant family, it is especially important to make sure they get what is right from your estate. Or perhaps there are other causes close to your heart – such as a special person or charity. Making a will means you get to choose exactly where the money goes.
- It’s so easy
Despite all the benefits it brings, making a will is surprisingly simple and cost-effective in most cases. And once it’s done, it’s done for life – unless you decide to change it later on.
We can help you plan today, for whatever lies ahead and will work with you to remove the stress – and the anxiety – ensuring you have a Will that is sound and secure for your family’s future.
Click here to view our Fee Schedule for Wills, LPAs, Probate and Ancillary documents.
Call Adam Smith at ORJ Law on 01785 275354 today, to find out how we can help.