Put simply, the benefits of having a Will can be huge!
A Will can say who you want to look after any of your children if they are under 18 years of age. This brings peace of mind to any Parent.
A Will can provide for your partner if you are not married or in a civil partnership. Without a Will your partner may otherwise not benefit from your estate at all unless they co-own the asset.
A Will shall allow you to decide who inherits your Estate when you die. If you pass on without a Will (called ‘Intestate’) the law of the land states that if you are married your spouse receives only part of your estate if it is over £250,000. Your spouse shall receive the first £250,000 and then a life interest in half the remainder and your children shall receive what is left over. That is complicated and could force your home to be sold. This could be distressing for your spouse who would be faced with the anxiety and expense of finding a new home to live in at a time when they are having to cope with your loss.
A Will can allow you to choose who you want to benefit from your Estate. It is not always the case that we want family to benefit above all others. Friends or Charities may also mean a lot to us. If you don’t have a Will they will not receive anything from your Estate. Is that what you want?
Organ donation and a funeral wishes can be set out in your Will. If you give a clear indication of what you want to happen after you die, it can be easier for your loved ones to ensure this happens, as they all know it was what you wanted to happen. That can avoid tensions and arguments between those you leave behind.
A Will can help reduce the threat of Care Home fees or unnecessary tax. With clever planning, which can be explained to you, you can limit the effect of tax on your death eating away your Estate and the worry of Care Home fees reducing the value of what you can leave to your loved ones.
A Will shall give you peace of mind! Once you have made your Will you can relax safe in the knowledge that you have done your best for your loved ones. Such a feeling is priceless, yet the investment to achieve it is so small in comparison. The sooner you make your Will, so the sooner you get the benefit of feeling this peace of mind!
A Will can save money! It is often overlooked that a Will is likely to save your Estate lots of money. Without a Will the process of administering your Estate is usually more complicated and costly for your loved ones. The investment of having a Will can simplify and save a lot of that. If your Will had the effect of also avoiding unnecessary Inheritance Tax and also led to Care Home fees not biting a chunk, then even more money has been saved.
Save money with Will Writers Berkshire!