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The Benefits of Making a Will

Why you need a Will

Millions of people do not have Wills and therefore have not documented how they want their estate to be distributed after they die. This is surprising considering rising property prices, the stagnant tax-free threshold for Inheritance Tax purposes of £325,000 and the fact that we have a wealthy and ageing population. A Will is important at any age particularly if you own property and have children. It is particularly important for second marriages or couples who cohabit where both parties have children.

 

  1. Peace of mind. A properly made Will provides peace of mind, knowing that your family and friends will not be subjected to any expense or complex issues that may result from intestacy (if you do not make a Will).
  2. Avoid disputes. If you make a Will, this avoids any disputes that could arise between your surviving relatives over who has the right to administer and benefit from your estate.
  3. Protect your partner. You can make provision for your partner or any other individual who might be living with or might be dependent on you (or example your partner or an aged relative). If you do not make a Will, they could lose out.
  4. Provision for children. Provision can be made for any young children to be financially looked after. If you do not make a Will, there can be restrictions placed on how assets are dealt with for young children. You can appoint relatives or close friends to be guardians of your children to ensure they are properly looked after.
  5. Make provision for close friends. You may not have a partner or any children and you may want some of your close friends to benefit from your estate. Making a Will enables you to do that.
  6. Charities. If you have limited family and friends you might want to consider leaving some of your estate to charity.
  7. Executors And Trustees. You can choose to elect your own Executors and Trustees of your Will (people who deal with the administration of your estate).
  8. Funeral arrangements. You can include details of any specific funeral arrangements that you would like.
  9. Gifts And Legacies. You can leave specific gifts of money or items to relatives, friends, and charities.

Some people assume that their estate will automatically go to the right person when they die. This is a dangerous assumption and a Will is absolutely essential at any age to make sure the right person or persons benefit.

Professional Will Writing Experience in Coventry

For your added peace of mind, we hold substantial professional indemnity insurance and we are also members of The Institute of Professional Willwriters (IPW).

  • Wills Produced by a dedicated specialist
  • External Trust specialists
  • High standard legal documents
  • Convenient Coventry City Centre office
  • Or Choose to be visited at your home
  • Over 40 Years Experience
  • Cost effective personalised Wills
  • A Company you can trust

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