Arranging a Will is all too often overlooked. People generally do not want to face up to their own mortality. However, a Will is a crucial part of good financial planning and we urge you to ensure that you have an up to date Will.
Not arranging a Will could mean that a deceased person’s assets are passed to the ‘wrong’ people. Also the value of the estate could become subject to unnecessary Inheritance Tax.
Those people that die without having drafted a valid Will are considered to have died ‘intestate’. In this situation the law lays down a standard set of rules for the distribution of their assets.
Dealing with the estate of a person who has died intestate can be very complicated. This is particularly true when the person has children; even grown up ones.
A Will can be prepared in a matter of hours with average costs starting at around £250. The potential savings from this initial outlay could be significant, as administration costs when dealing with your estate would be reduced and also Inheritance Tax planning arrangements could be put into place.
Should you need assistance please contact us and we can put you in touch with a recommended Solicitor or Will writing professional.
The Financial Conduct Authority does not regulate Tax, Trust or IHT Planning
Tax treatment is dependent on individual circumstances and may be subject to change in the future
Barry is an expert in his field. He listens and he helps.