It is quite common that when the new year arrives, we all plan on how we would like to spend our time and money. However, it is important to plan beyond the new year as well, and creating a Will, or updating an already existing one, allows you to do just that.
What are the benefits of creating a Will?
There are a multitude of benefits to creating Wills that many people do not consider, examples of such are: –
- Gives you control over how your estate is distributed
- Avoids any inheritance disputes
- Expresses your funeral wishes
- Helps manage your Inheritance Tax
- Reduces the stress on your loved ones
If you do not have a Will, your estate would be distributed under the intestacy rules, which could mean your estate is given to members of your family that you are not close to in life, leaving your loved ones confused and placed into a difficult situation.
In addition to the above, it is vital that any unmarried couples or those not in a civil partnership make Wills to ensure their partners are benefitting from their estate, as the intestacy rules do not take into consideration couples that live together.
To be able to correctly have your wishes adhered, you should make a Will and seek legal advice from a specialist solicitor who has expertise in the area.
Benefits of doing it through a firm of Solicitors?
When seeking to make a new Will or update an existing one, it is vital that it is done through a firm of Solicitors and not a “DIY” service. As a firm of solicitors are the experts on the matter and offer specialist advice, they can help you plan your estate in a way that follows your wishes but also gives consideration to matters that you may have not thought of previously.
Furthermore, while a Will may seem like a simple document to prepare, the implications of it being prepared and executed incorrectly could be incredibly damaging to the individuals you do wish to benefit from your estate.
Seeking specialist advice means that any doubts, worries or concerns that you do have are addressed and cleared up accordingly. For peace of mind, seek an expert.
If you wish to prepare or update your Will, please contact a member of our Private Client team on 01495 222214 or 01685 885500 for more information.
