Protect Your Loved Ones When You’re Gone By Making A Will Today
Why You Should Have a Will
Thinking about the worst is never a pleasant thought, but taking time to consider putting a will in place now is a smart way of ensuring your loved ones are looked after when you’re no longer around. Dying without a will means your assets and property will be distributed according to the law, rather than by your wishes.
By setting up your will, you can ultimately decide how your assets are handled and who will benefit from it. They are a great way to ensure:
- loved ones who would normally be excluded are looked after, such as a partner if you are unmarried or close friends.
- children under the age of eighteen are looked after.
- your estate and finances are distributed your way
- you don’t pay more on Inheritance Tax than necessary.
Preparing Your Will
Although you can write your will yourself, we would advise you to seek advice from a solicitor due to the various legal formalities to make sure it is valid. If you’re unsure about how some of the legal matters affect you, such as Inheritance Tax, contact Financial Foresight for trusted advice.
Remember you should always keep your will safe and tell your executor where it is. If a solicitor creates your will they will keep an original copy and send you a copy. It is also advisable to review your will every few years or update it when you feel fit to make crucial changes, such as moving house or separating from a partner.
Wills are even more essential for people who are living together but not married as the law of intestacy do not cater for partners. If you feel you are safe without a will because of your age, remember tragedy can strike at anytime. Laws tend to favour biological next of kin when an unmarried person dies without a will therefore it’s vital to think about estate planning, trust planning and inheritance tax now.
Foresight Foresight
Protect your loved ones when you’re gone by making a will today. Contact Financial Foresight today to book a free, no obligation consultation with our financial advisers.
Feel free to fill in our Personal Assets form prior to your consultation.
