It is relatively easy to make a Will – and it will ensure your family is saved from unnecessary anxiety at an already distressful time.
Below are 7 reasons why your family will thank you for making a Will.
1. How Much Inheritance Tax Can You Save?
You can easily ensure that no IHT is paid on your death and that it is deferred to the death of your spouse, allowing your family to plan their wealth planning with this in mind.
2. Do You Have Young Children?
If you have young children and both you and your partner were to pass away, you can not determine who will look after your children and how they will be brought up and at what age they inherit your estate. The Social Services will get involved and this will inevitably cause unnecessary trauma to your children.
3. Do You Want To Avoid A Dispute?
A Will makes it much easier for your family or friends to sort everything out when you die – without a Will the process can be more time consuming and stressful. This will also mean that solicitors and the courts will have to get involved.
4. What Happens If You Don’t Write a Will?
If you don’t write a Will, everything you own will be shared out in a standard way defined by the law – which most likely isn’t the way you might wish. You may not have thought of this, but your siblings could end up with part of your Estate.
5. Is Your Family Financially Secure?
A Will is especially important if you have children or other family who depend on you financially, or if you want to leave something to people outside your immediate family.
6. Are You Married or Single?
If you are unmarried, your partner will receive none of your estate, this could mean them becoming homeless and without any financial support.
7. Ways To Eliminate The Tax!
There are many ways in which you can eliminate IHT tax, which you can do in your lifetime and still maintain control of your assets.
Please contact me on [email protected] or 0207 041 6069 to find out how I can best help you protect your family and your assets.
