Everybody Needs to Make a Will – Don’t Delay
Writing a will properly allows you to protect your loved ones and gives you peace of mind.
It is important to make a will so that a person can control who they leave their money and property to. It also allows for the choosing of who handles their financial affairs after their death and who looks after any young children they may have if both parents are no longer able to.
A will can legally ensure that your funeral is handled in the way you want and include stipulations about the donation of organs as well as donations to charities of your choice.
Making a will provides the important function of reducing Inheritance tax liability (IHT) which can be crucial when the estate has substantial assets.
If you do not make a will your estate (all assets) will be distributed by the law of intestacy which is very likely to be different to what you want to happen. If a person has no family ‘the Crown’ (Government) instead of the people the client intended to receive benefit can get all the assets.