Why you should make a Will
Making a Will doesn’t have to be complicated, and once it’s in place it can be simply
updated to reflect your changing circumstances.
The main reasons for making a will are:
Reassurance:
A will ensures that, in the event of your death, your assets will be inherited by the people you choose. Without a Will, the intestacy rules govern who inherits what.
Dying intestate (without a Will) can cause a great deal of worry and upset for your family and dependants and your estate may not pass to those you wish to benefit.
Avoiding problems: If you die intestate (without a valid will) you are inevitably causing difficulties for those you leave behind. Your next of kin would have to distribute your assets according to the Laws of Intestacy – not necessarily what you would want, and certainly not taking into account any bequests you might wish to make outside the immediate family.
Leaving a will should remove any doubt about your wishes, and prevent uncertainty, disputes, and upset.
Protecting your assets for future generations:
A will can ensure that assets are kept within the family and are passed on down the generations. As the dynamics of modern families become more complicated, a well-structured will becomes increasingly important.
Saving on Inheritance Tax (IHT):
With a carefully planned will, you can reduce or eliminate the Inheritance Tax bill on your estate after your death.
Funeral arrangements:
You can include in your will wishes such as whether you want to be buried or cremated; where you would like your funeral to take place; details about the ceremony; where you would like to be interred, and any other details that are important to you.
The information, materials and opinions contained on this website are for general information purposes only, are not intended to constitute specific legal or other professional advice, and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances. Hall Reynolds LLP does not accept any responsibility for any loss which may arise from reliance on information or materials published on this website.
