Without a Will the Government take control of your total ‘estate’ when you die.
This is definitely not in the best interest of the family. They could face expensive legal disputes that eat away at any money and assets you want them to have.
You need to ensure your property is protected as effectively as possible to avoid possible ‘sideways inheritance’ and another key issue to do with the increasing cost of care fees and how to protect your house in the event you go in to care. (I will explain these in more detail when we meet up).
By putting a correctly written Will in place you will:
- Minimise the burden on loved ones at the time of bereavement.
- Potentially reduce inheritance tax and the benefit for your heirs.
- Ensure gifts are passed on to the correct people.
- Avoid future legal disputes between family members.
- Exclude someone effectively if that is your wish.
- Be specific about your funeral arrangements and end of life care.
- Choose your executors (those responsible for following your instructions) rather than one appointed by law.
There may well be other issues and I will happily discuss these when we have chat.
