Many of us feel making a will and planning for the future is something we must get round to but feel it can be put off until we are older.
Making a carefully considered will is a key responsibility that applies to us all. If you die without making a will, your property and possessions will be distributed in accordance with the laws and rules of intestacy and that may not be what you had in mind. If you don't think ahead, it may lead to problems for your family and other dependants at what will be a very difficult time for them.
By making a will, you can:
- decide who you would like to wind up your affairs
- choose exactly how your property and possessions will be divided
- take steps to reduce the amount lost to inheritance tax
- appoint guardians for your children whilst they are under 18
- put money into trust for young children and select the trustees to look after their inheritance until they come of age.
In other words, you can ensure your affairs are in order and know that you have done all you can to help your family and friends carry out your wishes once you are gone.
Berry Redmond Gordon & Penney will make sure that your will suits to your needs, having due regard to your assets and your responsibilities and the possible tax implications.
If you don't make a will:
- the distribution of your estate will be based on blood relationships and marriage according to strict rules of intestacy. These rules take no account of whether the beneficiaries are known to you, so you may never have met them and you may not even be aware of their existence
- your spouse may not receive the whole of your estate
- if you are separated but not divorced your spouse will still be regarded as your next of kin and will inherit all or part of your estate
- if you are not married your partner will not inherit any part of your estate
- you cannot make provision for friends or charities
- the persons you would wish to administer your estate may not be entitled to do so
- inheritance tax may be paid unnecessarily
- if there are no surviving members of your family, the whole of your estate goes to the Crown (i.e. the government).
Making a will is vital to protecting your family's future. Call Berry Redmond Gordon & Penney today, or fill out our enquiry form to find out more.
Usually, Berry Redmond Gordon & Penney have standard charge for drawing up a will. In particularly complicated cases, an hourly charge may be more appropriate.
Please Note: An extra or increased charge may apply for cases that involve:
- home visits
- requests for tax advice or other complications
In certain cases, an hourly rate may be more appropriate and should be quoted at the time instructions are taken.