Saturday, 04 September 2010
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Failure to make a well planned Will can leave a legacy of bitterness and family disputes in addition to a large tax bill that could have been avoided.

Most people are aware of the importance of making a Will, yet statistics show that an alarming percentage of adults do not have one. Surveys have shown that many of those without a Will intend to make one but, quite simply, have never got around to it. At am.law solicitors we have designed a fast and personal service to provide you with a comprehensive Will.

Not having a Will can have unexpected consequences and leave problems rather than a legacy for loved ones.

The reasons why you should make a Will are:

If you die without a Will the rules of Intestacy apply. This means, that without a Will, the people you want to give your assets to may never receive it and the ultimate recipient of your money may be the government.

Efficient Inheritance Tax planning can make substantial savings and is a means of maximising the legacy you leave to your loved ones. Inheritance Tax (“IHT”) has been described as the voluntary tax. It is estimated that each year hundreds of millions of pounds in IHT is paid needlessly by failure to plan ahead.

>  The administration of estates is usually quicker and cheaper when there is a Will.

>  By will you can appoint who you think would be the most appropriate person to be the executor.
 
>  Without a Will none of your money can go to charity or to friends.
 
>  Without a Will you cannot leave specific gifts, such as jewellery or collections.

>  By Will you can express your precise funeral wishes

>  You can appoint guardians to look after your children

>  The intestacy laws do not provide at all for partners living together (outside marriage or civil partnerships)

You should review your Will every 5 years or on a change in circumstances, such as marriage, civil partnership, divorce, second families or inheritance.

We would discuss with you your individual requirements in order to provide you with a Will tailored to your circumstances.

 

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