Many people who fail to make a Will are probably unaware of the stressful situation they create for those they leave behind.
A professionally drafted Will ensures that your money and possessions go to the people you want to benefit – not, for example, to a previous spouse or partner. A Will can make it easier for those nearest and dearest to you to settle bills, deal with bank accounts and resolve other financial and business affairs.
If you have children you can stipulate named guardians for under-18s in the event that both parents die. If you do not have children or a spouse or partner, you may wish to nominate friends, carers or charities to benefit from the money and possessions which make up your estate – all groups which will not benefit if you do not have a Will?
Due to the changing nature of families, a Will isn’t just appropriate for a husband and wife with children. Unmarried partners and couples with children from previous relationships all require careful consideration to make sure wishes are fully considered and that the Will reflects those wishes to make sure everyone is provided for.
Although, by law, a Will does not have to be drawn up or witnessed by a solicitor there are many situations where a solicitor’s help is vital to help you understand complicated legal jargon and ensure that you do not make a costly and damaging mistake which leaves your loved ones without the care and protection they deserve.
- Making a Will is a vital part of planning for the future of your loved ones. Provision can be made for all members of the family, friends and charities as you wish.
- Through a Will, you can choose who your executors are and ensure that it’s the people you trust who administer your estate.
- If you die without valid Will, your spouse may not inherit your full estate. If you are not married and have no children, your estate will pass to wider family members, some of whom you may have had no contact with for years.
- If you have young children, a Will lets you appoint guardians of your choice to look after your children if they are under the age of 18.
- The absence of a Will can lead to uncertainty over your estate and even to family disputes.
- Without a Will, your family could face a larger Inheritance Tax bill than necessary. Arrangements can be made to help reduce Inheritance Tax.
- Through a Will you can set up trusts to protect the inheritance of very young or vulnerable beneficiaries.
- A Will allows you to make specific gifts to individuals or charities. These can range from jewellery to sums of cash.
- Unmarried partners may not receive anything from your estate, unless you have made a Will in their favour.
- A Will allows you to make a tax free gift to a registered UK charity.
How we can help
Else Solicitors is a company with vast experience in drawing up Wills for people who share a property with someone who is not their husband, wife or civil partner, have their own business, or own property overseas. Our role is to explain, in a friendly and understanding way, what the historic and sometimes antiquated language used in Wills means so that you can make informed decisions.
We offer a cost-effective, fixed fee service and we will store your signed and witnessed Will free of charge. We can also offer help and advice with updating your Will, inheritance disputes, inheritance tax planning and setting up trusts, or a lasting power of attorney in case you are ever unable to manage your own professional and financial affairs.
To discuss how we can help you make a Will that meets your particular requirements, please contact Kathryn Caple on 01283 526230 or email kathryn.caple@elselaw.co.uk.
