At the start of a new year, many people like to make a fresh start or may even make a resolution. So now may be a good time to give some serious thought to making a Will?
A Will is the only way to ensure your loved ones inherit what you want them to have. A Will also prevents your estate being distributed in accordance with the intestacy rules. Depending on who survives you, the intestacy rules could result in an estranged relative inheriting your estate. A Will gives you peace of mind knowing that the intended recipient receives your estate.
Appointing Executors of your Will is also an important decision. Executors are the people who are responsible for dealing with your estate assets when you die. You can appoint anybody as an Executor. Most people tend to appoint family members, although some prefer to have a professional, like a Solicitor.
A Will also allows you to appoint Guardians if you have young children and stipulate that money should be held in trust for your children, if necessary.
A Will may also allow you to mitigate inheritance tax and therefore it is important that you discuss this issue with a professional. Putting it off can result in your estate being liable to a large amount of tax. Taking advice from a solicitor is a sensible step.
Above all, making a Will gives you peace of mind. Why wait? Give Morrish Solicitors a call today on 033 3344 9600 and ask to speak to James Shingleton or Charlotte Bandawe at our Pudsey office or Tom Morrish or Monika Volsing at our Yeadon office.
Best wishes for 2016!