Making a Will = Peace of Mind
Making a Will may seem like a daunting thing to do, probably because we don’t like to think about ourselves dying. But it really isn’t. If anything, you feel a sense of relief when you have signed your Will.
It gives you the peace of mind knowing it is in place, should the inevitable happen. The peace of mind that you have appointed the people you want as your Executors, Trustees, Guardians and Beneficiaries. And, with careful planning you can help reduce your Inheritance Tax liability.
Not making a Will can have severe consequences, on your death. The Rules of Intestacy will then state how your estate will be distributed. And, your estate may not end up where you want. Below is a list of some of the consequences:
Married couples – your entire estate may NOT pass to your spouse.
Cohabiting couples – your partner inherits NOTHING under the Intestacy rules. This could result in a claim against your estate which will delay the estate and can be costly.
Young children? – in the absence of a Will, your minor children could end up in the care of the local authority.
For unmarried fathers – if your name is not on your child’s birth certificate then, sadly, you don’t have parental responsibility. Was your child born before the 1st December 2003? Is your name on your child’s birth certificate? If the answer is yes, unfortunately, you also don’t have parental responsibility.
Inheritance Tax – your estate could end up paying more Inheritance Tax.
However, by a making a Will, all these issues can be easily resolved. Contact us today to find out more. Making a Will gives you peace of mind as well as your loved ones. They will know what your final wishes and you can ensure that your assets go where you want.
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