Preparing a Will is something many of us delay doing and sadly thousands of people die intestate each year (without leaving a valid Will). Leaving a valid Will ensures your decisions surrounding your estate will be carried out according to your wishes. Passing away without a Will can also create difficult decisions as well as problems for loved ones.
At RP Crawford & Co Solicitors, we can assist you with drafting your Will and advise on matters associated with your estate. Read through the following important reasons to prepare a Will and when the time is right for you, call us to arrange your initial free consultation with our experienced solicitors.
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Decide how your estate will be distributed
You can ensure your estate is distributed according to your wishes by preparing a valid Will, inclusive of your property, possessions, finances and investments. If you don’t do this, you estate will be distributed according to the rules of intestacy.
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Unmarried partners and partners not registered in a civil partnership
Unmarried partners and partners who have not registered a civil partnership cannot inherit from each other unless there is a Will. Making a Will gives you the ability to provide for your partner, whether you are married or not.
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Guardians for your children
Should you, your partner or both parents die before your children reach the age of 18, you can appoint guardians for your children in your Will, giving you peace of mind knowing they will be cared for.
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Making financial arrangements for any children
In your Will, you may decide to set up trusts for children / beneficiaries including any stipulations you wish to implement, such as that they are not to receive their inheritance until they reach a certain age.
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Tax payable on the inheritance
It is possible to implement measures to assist with tax planning. Our experienced solicitors can provide further advice on options available to reduce the amount of tax payable on inheritance.
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Changes in your circumstances or life events
Should your circumstances change, e.g. getting married, entering into a registered civil partnership, getting divorced or separated, having children or purchasing property, it is important that you make or change your Will in accordance with your wishes.
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Minimise the chance of disputes
Making a Will ensures you are in charge of what happens to your estate. Outlining your wishes in a legally binding document can avoid disputes or disagreements over your estate.
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Safeguard your family home
You may have specific wishes for who should inherit your home after your death. Stating this on a valid Will can help to avoid disputes between family members over the property.
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Decide who will manage your estate
Deciding who will manage your estate is an important reason to have a Will. When you prepare your Will, you will have the opportunity to nominate an executor, this is the person who will be in charge of managing your affairs as outlined in your Will. This is an important role and must be assigned to someone you trust fully and who is capable of the responsibilities associated with it.
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Leaving gifts to charity
You can leave gifts to charity in your Will and depending on the value of the gift, your estate may benefit from receiving a tax break for inheritance tax.
RP Crawford & Co Solicitors Will Writing Service
For further legal advice on preparing your Will, or updating an existing Will, please call us on 028 9038 1024, complete our online enquiry form or email enquiries@rpcrawfordsolicitors.com.
