Writing a will can solve your family unnecessary distress at an already difficult time once you’re gone. There are a variety of reasons why you should write a will. Your will tells everyone what should happen to your estate (your property, possessions and money) after you die.
Unfortunately, if you don’t write a will, the law decides how your estate is passed on. This may not be necessarily how you had planned.
Here are four reasons why you should write a will.
1. Reduce Inheritance Tax
Writing a will can help reduce the amount of Inheritance Tax that may be payable on any property or money you leave behind.
2. Dependent Family
Writing a will is especially important if you have family or children that depend on you. Or, if you choose to leave something to people outside of your immediate family.
A will makes it a lot easier for your friends and family to sort out your estate after you die. This process can be incredibly time consuming and stressful without a will already in place to decide.
4. Your Wishes
Without a will, the law decides how everything you own will be shared out. This may not be the way you may have wanted.
Middletons Solicitors offer the following Private Client services:
- Preparation of Wills
- Obtaining a grant of probate or letters of administration
- Estate administration
- Taxation advice including Inheritance Tax
- Post death variations
- Family Trusts including creation and administration
- Lasting powers of Attorney