When was the last time you reviewed your Will?

Without a Will your assets probably won’t go to the people you would wish to receive them.

Without a Will or without updating your existing Will, for those left behind the consequences may not be what they would have hoped for, or indeed expected.

Did you know…?

Engagement  

Do you want your fiancé/fiancée to benefit on your death?  They are not automatically entitled.

Marriage

If you have married or re-married since making your Will, your Will may no longer be valid.

Divorce

If you are going through a divorce or have divorced since making your Will, some aspects of your Will may need to be changed.

Children

If you have had more children or grandchildren since making your Will, they may not automatically be included in your Will.

Partners   

If you live with a long-term partner and you want them to benefit in any way from your estate when you die, then it is vital that you leave them something in your Will. A co-habitee (sometimes referred to as a common law spouse) will not automatically be entitled to any benefit from an estate.

Trusts  

If you have created Trusts through your Will, then they should always be reviewed as the law regularly changes.

Charity 

If your estate is subject to inheritance tax, you could reduce the rate of tax from 40% to 36% if you leave at least 10% of your net estate to charity.

Death  

If someone you have named in your Will has died it may be important to change your Will to ensure that your estate is passed in accordance with your wishes.

Financial matters                                                         

In these difficult economic times, many people are experiencing financial hardship and even bankruptcy.  It may be possible for us to help protect the inheritance of one or more of your beneficiaries from financial problems.

Inheritance tax                                                      

Whilst it is no longer necessary for a married couple to use the Nil-Rate Band for inheritance tax purposes on first death, there is considerable potential for the saving of tax where significant family wealth is tied up in business or agricultural assets.  There is also potential to channel wealth tax free to descendants through a surviving spouse or civil partner.

Other matters you should consider

Lasting Power of Attorney

At some point in the future, all of us may need help with our finances or property matters, or even with health and welfare decisions.  Choosing someone now who you trust to act for you in the future will help give you peace of mind that your personal choices will be carried out during your lifetime.

Private Client

NameScott Cammish
PositionDirector
Telephone01684 892000


NameVictoria Knight
PositionDirector
Telephone01684 892000


NameChris James
PositionSenior Trusts & Estates Practitioner
Telephone 01684 892000