Most people would rather not consider their own death, so maybe this is the primary reason most people decide they don’t want to make a will. Furthermore, there are some misconceptions that prevent people from making a will, especially thinking that everything they own will automatically go to their spouse or thinking that it is too expensive to hire a solicitor with the relevant expertise in writing wills. Indeed, these misconceptions can lead to unexpected problems in the future, while writing a will with an expert solicitor can help you find the peace of mind that after your death your wishes will be fully carried out.
Make a will
Writing a will with the help of qualified and experienced wills solicitors in London is the only way to make sure that your family and friends inherit your estate, according to your wishes. However, if you pass away without making the necessary arrangements, including writing a will, the intestacy rules will be applied arbitrarily. These particular rules could result in your spouse being forced to share any financial benefits from your estate with other people, including any children with whom you may not have decided to help immediately. Furthermore, the various intestacy rules which apply to people who do not have a will do not recognise civil partnerships. Therefore, if you live with your spouse and pass away before you make a will, then your civil partner will not inherit your estate automatically, especially as a result of the term ‘common law wife’ not being defined under the intestacy rules. This particular solution may cause unexpected costs as well as time and can be easily avoided by writing a will.
Planning for tax
If you want to make sure that your inheritance is divided according to your wishes, then you should make sure the amount of inheritance tax, which is paid on the estate, is kept to an absolute minimum. By giving financial gifts to your friends and family you can avoid having to pay unnecessary amounts of inheritance tax. In addition to the creation of trusts an expert in will writing will help you to create beneficial trusts for your friends or family who are underage or for any beneficiaries of your estate who have disabilities.
Avoid home-made wills
In order to prevent any unexpected issues in the event of a family member passing away, you should try to avoid the use of home-made wills. Indeed, wills made at home should really be used in very straightforward cases and can often be problematic, which could lead to unexpected expenses. Solicitors which specialise in writing wills offer consumer protection as well as receiving backing from professional authorities which can also prevent you from dealing with an unregulated company.
Make sure you avoid unexpected problems by choosing to write your will with an experienced solicitor who could save you a significant amount of money as well as give you extra peace of mind to make sure that your inheritance is carried out according to your wishes.
However, time does not stand still for any man while you should constantly make sure your will is updated with any changes to your wishes for when you pass away.