Recent studies have indicated that more than half of all adults living in the UK have not made a Will. For many people, making a Will remains on their “to do” list when it ought to be a top priority. Making a Will ensures that those you are closest to are provided for and that your property and possessions pass according to your wishes. However, there is often a perception that making a Will is a complex and time-consuming process. There are so many personal decisions to make. Yet, taking that first step is the hardest part. Our specialist legal team will ensure that making your will is both simple and speedy.
Failure to make a Will can have devastating consequences for your family and could leave those who you are closest to without financial provision for the future. If you die without a Will, the Rules of Intestacy will determine who inherits your money, property and possessions. These rules were created 1925 and, despite amendments made in recent legislation, often do not reflect the circumstances of modern families and their living arrangements. The result could be that your property and possessions could pass to those to whom you would not wish them to pass.
Creating a Will gives you the comfort of control and the ability to specify your exact wishes once you die. Everyone will have different priorities and concerns and a Will can be tailored to your exact requirements at any stage in life. For instance,unmarried couples may wish to ensure that their property and possessions pass to each other; gandparents may wish to make provision for their grandchildren; whilst parents can specify who they would like to act as a guardian for their child or children in the event that they pass away before their children reach the age of eighteen. A person who has been married before can ensure that their children or step children are provided for.
In addition, our specialist team can provide you with information about estate planning and to what extent your estate will be subject to inheritance tax. To sum up, a Will is life’s insurance of security for family and loved ones.
The Glossop office of Davis Blank Furniss is staging a Will Week from Monday 17th November. More details can be found here.