Last Will and Testament A Will is very simple to explain. When done as part of a full estate review it makes certain your wishes are met and assets pass on to your chosen beneficiaries after death. Without a Will, known as Intestacy, this may not happen. It can cause lengthy delays in the distribution of your estate and could pass assets to those who you would not have chosen to benefit. In many cases the lack of a Will has been the cause of many disputes, leading to the complete breakdown of the family unit.
A Will permits you to do many things that would not be possible if you were to die intestate, including specifying the person(s) who will administer your estate and giving direction to your executors as to what is to happen to specific assets. This achieves the desired tax and estate planning objectives, protecting your assets from being used to pay for Long Term Care fees and indicating who should be the Guardians of your young children.
By making a Will you can choose who will benefit, how, when and in what way. Safeguards can be put into place to protect a future inheritance. Children can be protected in times of tragedy by naming future guardians and financial provision can be made to help. Future Inheritance Tax liabilities can be identified and addressed. Most importantly assets can be protected. In short if dealt with in the correct way, you can be certain your wishes will be met.
For further information please call us on 01223 795050.