Wills & Estate Planning

Having a will in place is not a morbid exercise but an act of responsibility and care. It empowers you to safeguard your assets, protect your loved ones, and ensure your wishes are actioned in line with your wishes. Here are 5 reasons “why’”.

1. To ensure your last wishes and intentions are applied.

Due to life's uncertainties, having a will is a crucial step to safeguarding your assets and ensuring your wishes are carried out after your passing. It is a document that gives you the power to take control of your estate and dictate the distribution of your belongings and property to the individuals or causes that you care about.

2. It prevents intestacy* and family disputes.

Without a will, the state takes control of your estate, distributing your assets according to governing laws of intestacy. These laws may not be what you would want, which could potentially lead to unwanted outcomes and family disputes. Having a will in place, ensures that your wishes are actioned, and your assets distributed as you intended.

3. It makes sure protection is in place for your children and vulnerable dependents.

If you have young children or vulnerable dependents, a will becomes even more essential. It allows you to appoint guardians who will take care of your children and manage their inheritance until they reach adulthood. You can also specify how your assets should be used for their upbringing and education, ensuring their well-being is a priority.

4. It’s a way to document your personal wishes and final arrangements.

A will extends beyond the distribution of assets; it is also a platform to express your personal wishes regarding your funeral arrangements. You can outline your preferences for the ceremony, burial or cremation, and any specific requests you may have. This provides valuable guidance for your loved ones during an emotionally challenging time.

5. It simplifies the estate administration process.

A will simplify the estate administration process, which will reduce the burden on your loved ones during a very emotional time. It clearly outlines your wishes, reducing any potential for misunderstandings or family disputes. A well-written will also speeds up the probate process, ensuring your assets are distributed efficiently without unnecessary delays.

Seeking professional advice

Creating a will can be personally challenging, so seeking professional guidance from an estate & tax planning specialist is highly recommended. They can provide expert advice tailored to your specific circumstances, ensuring your will is legally valid and reflects your intentions.

Take that step of creating a will today, providing peace of mind for yourself and your loved ones.

Chancery Law & Tax

Email: [email protected]

Website: www.cltl.co.uk

*Intestacy - who inherits if someone dies without a will? - GOV.UK (www.gov.uk)