BlaserMills Solicitors - Why you should make a Will

Why you should make a Will

"In this world nothing can be certain except death and taxes"

Benjamin Franklin's words are as true today as they were 200 years ago. Yet, despite this less than one third of adults in the United Kingdom make a Will.

There are a number of misconceptions about what would happen if you died and had not made a Will. If you die without a Will (known as dying Intestate) this can lead to uncertainty, delays, family conflicts and disputes for your loved ones at an already stressful time. It can also lead to the payment of taxes (and costs) which might otherwise have been avoided.

Under the Intestacy rules your spouse may not receive everything when you die. If you are unmarried but living together then your partner will probably received nothing at all. A Will allows YOU to decide how your estate is distributed.

In particular

Unmarried couples do not have any automatic right to inherit from their partner

There is no choice as to who will administer the estate

There is no-one appointed to act as guardian for infant children

Children inherit at 18, which may not be appropriate in every case

No provision is made for friends, relaties and charities, who are not included under the Intestacy rules

Inheritance Tax could be paid where it is not necessary or could have been significantly reduced

You should also consider making, or revising, a Will if your circumstances change.

For example

The purchase of a property

The birth of a child

A divorce or separation

A death within the family

If you marry - your existing Will will no longer be valid

We have a dedicated department specialising in the drafting of Wills, Inheritance Tax Planning and administering estates.

Preparing a Will is not just a case of writing out one's wishes in legal wording. Each Will is unique to the person making it and is an important and personal document. A person's wishes may sometimes be complex and difficult for them to express. Alternatively, what appears to be a simple Will can often ignore the wider contexts of tax planning, property held in joint names and insurance policies.

Our team of solicitors, experienced in Will drafting, can provide invaluable and practical guidance and advice as to what provisions should be included in your Will.

For more information please contact the Wills and Probate department on 01494-782291 or email the Team.