Why is it important to make a Will?

Writing a Will is essential in ensuring that your last wishes are carried out and those that you intended to inherit, do so. It is the last instruction that you will leave to your family, so it needs to be right. If you die without making a Will you could leave a huge burden of legal, financial and tax problems which could incur unnecessary costs and stress for your family. Without a valid Will your husband or wife may not actually inherit all your assets; you simply don’t have control. It is also extremely important if you have children under eighteen, that you choose who you want to be their legal guardian if anything happens to you. If you are a homeowner a Will also allows you to detail how you want to divide your estate, including any property, savings accounts, shares, or ISAs.

Did you know that your share of the family home and any assets within your Estate could pass to someone you have never met?

If you died without making a valid Will, the majority of your estate would pass onto your spouse / partner first. However, if they went on and they remarried after your death, leaving everything to their new spouse, your current loved ones could be left without their inheritance.

What happens if my beneficiaries become bankrupt or get divorced?

A Trust can enable the Trustees to withhold or postpone any payments to potential beneficiaries in circumstances where those payments could be swallowed up by divorce or bankruptcy proceedings. It may also be more beneficial to skip a generation to protect the assets. Whilst the funds are still sitting in a Trust, they are not capable of being considered for assessment by the Court or Trustee in Bankruptcy.

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Inheritance Planning FAQs

Home » Frequently asked questions » Inheritance Planning FAQs

QWhy is it important to make a Will?
QI can write my own Will, so why should I pay for one?
QDid you know that your share of the family home and any assets within your Estate could pass to someone you have never met?
QWhat happens if my beneficiaries become bankrupt or get divorced?

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QWhy is it important to make a Will?

QI can write my own Will, so why should I pay for one?

QDid you know that your share of the family home and any assets within your Estate could pass to someone you have never met?

QWhat happens if my beneficiaries become bankrupt or get divorced?

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