A Will is a document that enables you set out how you want your assets distributed after you die. Wills should form the cornerstone of inheritance tax and wealth planning for all families and individuals. The process for drawing up a Will is generally far more straight forward than most people realize. We usually have Wills ready for clients to sign within a week of the initial meeting, although in an emergency this can be reduced to a few hours.
If you die without making a Will the law dictates how your assets are divided which may result in your estate being divided in a way you would not approve of and may result in unnecessary inheritance tax having to be paid by your next of kin.
A properly drafted Will:
- Gives you peace of mind
- Allows you choose who to act as your Personal Representative or Executor
- Allows you select guardians for your children
- Minimises tax
- Reduces the likelihood of family disagreements and unnecessary expenditure on litigation costs
Should you wish to make, or review a Will, we would be happy to act for you. The following would greatly assist us when discussing your Will:
- A list of your assets and liabilities with approximate values for each
- The full names and addresses of anyone to be named in the Will
- Confirmation of your identity (e.g. passport or driving licence)