Ensuring your assets pass to your intended beneficiaries and not lost through divorce, bankruptcy and long term care.
Everybody understands the importance of making a Will, but most only ever talk about it. There are many reasons why you may want to make a Will, for example:
- To ensure that only the people you want to, actually benefit from your estate;
- To provide for your partner during their life, whilst also ensuring that your children from previous relationships are not left out;
- To protect a beneficiary who might not be able to manage money if it was passed to them directly;
- One or more of your beneficiaries may be in receipt of means tested benefits, which could be lost if they inherited some money;
- To reduce the impact of Inheritance Tax for your beneficiaries.
This area of law can be complex. It is very important that you obtain advice; whilst you do not have to use a Solicitor, you should ensure that whomever you see is not only suitably qualified, but also regulated and insured. I have previously worked as a Solicitor for over 15 years, but I have decided to be voluntarily registered with the Institute of Professional Willwriters (IPW). They are a specialist regulator in this field and each member has to carry public liability and professional indemnity insurance of £2m. The IPW’s Code of Conduct is approved by the Chartered Trading Standards’ Institute – the governing body for Trading Standards.
Contact me for an informal discussion to see if I can help you.