Planning is essential when planning yout will. It ensures that your wishes will be met after you die, it ensures that close relatives,friends or causes you want to get your money will get it. It helps your excutors administate your estate quickly and effectively saving time, money and hopefully any disputes.
Other reasons why it’s important to make a will.
1. Reassurance for you that your loved ones will be okay – A will is the only way to make sure your savings and possessions (your estate) go to the people and causes that you care about. Leaving a will should remove any doubt about who you want to leave your estate to.
2. You can plan for Inheritance Tax – this is usualy paid on anything you leave to a spouse or civil partner who has their permanent home in the UK. Inheritance Tax is only payable if your estate ( ie your property , savings and anything of value) is worth more than ( currently figure) £325, 000. Inheritance tax is complex and if you have total assets over the trigger figure you should get advice from a profestional. The government’s website is a great site to find out the basics.
3. Your funeral: Your will can be a way to let people know whether you would prefer to be buried or cremated, and the type of funeral service and music you.
You can get standard will template at WHSmiths. If you have any doubts – you must get the draft looked over by a solicitor to check it says what you intend it to say.
We are able to provide access to appointments to a pro bono solicitor who has over 30 years experience of advising on wills and probate. This service is limited to local people with limited means. Please contact us to se if we can help.