importance of writing a will

importance of writing a will

June 8th, 2009

It is understandable that so many of us put off the task of making a will. Afterall, it makes us think about our mortality and consider things which we hope will never happen. However, without one, you might be surprised to find out how easy it is for your assets to be distributed out the wrong way. The exact rules of distribution depend where in the British Isles you live as some details differ between Scotland, Ireland and England & Wales. However, if you are not married, for example, the law is united in saying your partner may get nothing. Without a marriage certificate, your children and parents will benefit instead. Even if you are married, there are many good reasons for making a will. First and foremost, it allows you to take postive decisions over who gets what – including friends, friends’ children, charities and local societies who are entitled to nothing without your say. You can also decide if ex-partners – or perhaps more importantly, ex-partner’s children – should be helped out. And, if your estate is greater than £325,000 (£650,000 for married couples), a will can help you plan to reduce your Inheritance Tax liabilities. In thinking like this, making a will can actually become a very positive, rather than negative experience. Considering these things in advance can actually help your peace of mind and ensure that all you family and friends will be looked after in exactly the way you want them to be. Please contact Mark or Clare for all your financial requirements. 

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