Writing your Will is easy to put off and every day that goes by may add to your risk. Illnesses or accidents can affect everyone including the young.
Every adult should have a Will written it does however become even more important if you fall into one of the following categories:
- There could potentially be a family dispute over your legacy.
- You do not want to pay more tax than you have to.
- If you are a property or business owner.
- If you have re-married or are unmarried in a long term relationship.
- You have children from a previous relationship or outside of wedlock.
- You wish to preserve a life by donating a vital organ.
- You would prefer to designate Guardians for your children rather than let Social Services decide.
- You have assets abroad.
- You want jewellery, memorabilia or war decorations to be kept in the family rather than given away or sold.
- You want to specify your funeral wishes.
There are also many unobvious advantages of having your Will written, here are some examples below:
- Otherwise the State will decide your beneficiaries.
- You may be able to protect part of the family home from begin used for nursing home fees.
- Will Trusts may preserve State benefits for vulnerable beneficiaries.
- Give clarity on your intentions to loved ones at the emotional time of your death.
- Bank accounts may be frozen until probate is concluded.
- Exclude a person from inheriting.
- You can provide a framework for the continuation of your business.
As we view this as such a fundamental part of any financial planning we have selected professional key partners to write your Will on request.
If you would like someone to call to discuss your Will arrangements please complete the Contact Form on this website and provide the most suitable time to call you between Monday to Friday, 9am to 7pm.
Author: Richard Stokes
Richard Stokes is a partner at Niche Advice who are whole of the market Independent Finance Brokers In London. His role is very much focused on on Mortgage and Insurance products.