Welcome to our Guide to Making a Will.
Will your loved ones be provided for in the way that you want?
We often avoid thinking about the inevitable, but planning ahead is crucial, especially when it comes to securing your loved ones’ futures. Writing a Will isn’t just a legal formality; it’s a way to ensure your assets are distributed per your wishes and your family is cared for even when you’re not around.
Understanding how to secure your assets and possessions after you pass away is essential. It’s crucial to ensure that your estate (the sum of your assets and possessions) will be distributed according to your wishes among your chosen beneficiaries, who could be family members, friends or charitable organisations.
The importance of making a will
Your estate can include personal possessions, property (both in the UK and overseas), savings, investments, insurance funds and pension funds. A Will lets you determine what happens to these assets after your death.
The reasons to make a will
A Will clarifies who will benefit from your property and possessions (your estate) after your death.
There are numerous reasons for making a will:
- You can decide how your assets are shared.
- You can ensure your partner is provided for if you’re an unmarried couple.
- You can decide whether to leave anything to your former partner if you’re divorced.
- You can ensure you don’t pay more Inheritance Tax than necessary.
- You can protect your estate if several people claim it because they depend on you financially.
- You can include a trust in your Will to provide for young children or a disabled person, save tax or protect your assets in some way after you die.
- You can ensure your wishes are followed if your permanent home is not in the UK, you are not a British citizen, you live here but have overseas property or you own all or part of a business.