Wills, Enduring Powers of Attorney and Advance Directives all run on from one another. Is this the best option? Who should make a Will? Just about everyone over the age of 18.
It is a reality that we are often worth more on death than we what wealth we have access to during our lives. However, if you do not make a Will, that which you own ("your estate") could easily go in a direction you had not expected.
If you die without a Will the State directs who receives your estate under the Intestacy Rules. Society has changed considerably since these rules were formulated, but the rules have not.
In brief, the rules provide for your next of kin to share your estate, which may not include the people you consider to be your nearest and dearest. For example, it will not include your partner if you are unmarried, and have not entered into a Civil Partnership.
Dying without a Will may cause financial hardship to those you had intended to provide for, or unexpected good fortune for those you had not intended to favour. It may also leave your family with uncomfortable uncertainties as to what you had really intended.
With increasing property values, many more families are facing the likelihood of paying Inheritance Tax on a death. Wills can provide a useful tool to minimise or eliminate this tax liability.
Most people intend to make a Will...not enough actually do it. Contact us to arrange a will appointment now.