Writing a will is one of the most important things you can do for your family. It not only allows you to express your wishes about what happens to your estate, it speeds up the process with which your assets are distributed.
Yet a recent survey revealed 60 per cent of the UK adult population does not have a will. Most of these are among younger people, but 35 per cent of those aged 55 and over also have no will.
Ten per cent of people believed their estate would automatically go to the right people. But if you die intestate – without writing a will – your assets are distributed according to the law and not according to your likely wishes. For example, you may want some or all of your estate to go to a particular charity, or relative, or – more significantly – your partner, but without a will in place, your estate is likely to go to your closest next of kin.
If you are not married or in a civil partnership, your partner won’t inherit. If you are separated, but not divorced, your estranged spouse will inherit.
Writing a will avoids uncertainty and also helps mitigate any tax liability on your estate.
At Hartsfield, we work closely with associates who are qualified in will writing and who will help you to put your wishes into a legal document.
ESTATE PLANNING GUIDE
To DOWNLOAD this FREE guide which sets out the basics of Estate Planning, please click the button below: