Making a Will
Making a Will
Ensuring that you leave the maximum amount to your family, rather than the taxman or even someone else’s family, is a crucial aspect of the estate planning process. Making a Will provides the foundation for this important step.
Many individuals postpone making a Will due to various reasons. Some believe that the people they wish to inherit will automatically do so, while others may feel that it is not relevant to them at the present moment. However, the reality is that delaying the creation of a Will can lead to complications for those left behind. If you pass away without a valid Will, it can result in significant problems, potentially causing your inheritance to go to the wrong person or even to the Crown.
Creating a Will empowers you to plan precisely what will happen to your property (estate) after your demise. By doing so, you ensure that your intended beneficiaries receive their rightful share, in accordance with your wishes. This not only safeguards your assets but also helps prevent any potential disputes among relatives.
The answer is simple: everyone.
In particular, it is crucial for individuals with dependent relatives, such as children under the age of 18, elderly relatives, or relatives with special needs and disabilities. Additionally, anyone who owns property or possesses any type of asset that they would like their relatives, friends, or charities to benefit from should make a Will.
This is a common misconception. Depending on the size of your estate, specific rules are applied to determine who inherits and how much they inherit in the absence of a Will.
In such cases, it is referred to as dying intestate. The laws of intestacy dictate who will inherit and in what proportions if you do not leave a valid Will. However, this distribution may not align with your wishes. In the worst-case scenarios, where relatives cannot be located, your assets may end up being claimed by the Crown.
Don’t leave your estate to chance. Take control of your legacy by creating a Will today. By doing so, you ensure that your loved ones are provided for and that your assets are distributed according to your wishes. Contact us now to get started on securing your family’s future.
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