Many people delay making a Will, but it’s crucial for ensuring your wishes are followed after you pass away. Here are 10 reasons why you should have a Will:
1. Control who inherits your wealth
Decide who gets what from your estate. Without a Will, the law decides, which might not align with your wishes.
2. Appoint trusted executors
Choose someone you trust to handle your affairs, from arranging your funeral to distributing your assets.
3. Plan for inheritance tax
Efficient Will drafting can reduce tax liabilities, maximizing what your loved ones receive.
4. Choose guardians for your children
Ensure your children are cared for by someone you trust if they’re under 18.
5. Avoid family disputes
A clear Will can prevent arguments over your estate, reducing stress for your loved ones.
6. Provide for dependents
Set up trusts or other provisions to care for young or vulnerable dependents.
7. Pass on sentimental items
Specify who should receive cherished personal items, like family heirlooms.
8. Account for blended families
Include step-children and ensure children from previous relationships are provided for.
9. Protect unmarried partners
Ensure your partner is taken care of, as they aren’t covered by intestacy laws.
10. Simplify things for loved ones
A Will provides clear instructions, making it easier for your family during a difficult time.
Get in touch with the Private Client Team to put a Will in place or update your current one.
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