Most of us need one but lots of us put it off! Up to date wills provide peace of mind that you have done all you can to put your affairs in order. They give you the opportunity to ensure your hard earned money and assets go where you want them to. They become more pressing in the following situations:
- If you are self employed or a business owner – who runs your business if you pass away? There is usually no automatic right for someone to carry on a business and it is possible a major asset could run down very quickly. Businesses can be a very useful tool in estate planning due to generous reliefs currently available for inheritance tax purposes but the passing of your unique business needs some thought.
- When you have remarried.
- When you have step children or a blended family.
- In later life.
- If you have assets which take you over the Inheritance Tax Threshold
- If you cohabit but are not married or in a civil partnership.
- If you own a home abroad as the laws of that country may apply and can be different to those in the UK.
- You have DIVORCED, SEPARATED, MARRIED, REMARRIED or otherwise undergone a change in your circumstances.