WHY IT’S IMPORTANT TO WRITE A WILL?
While the subject of death can be emotional and difficult to think about, it is nonetheless important to plan ahead. You can then make sure that your loved ones are looked after and your assets pass exactly where you want them to. You can also use your Will to include information about your funeral arrangements, legacies to charities and who you’d like to inherit any personal items.
Writing a Will offers the opportunity to create a written record of your wishes. It can also help minimise any exposure to Inheritance Tax and include details of the individuals who you’d like to act as your executors in order to manage your affairs.
WRITING A WILL
Choosing how to write your Will is important. A professional will provide you with advice, and will be well informed about the latest tax and estate planning legislation. If you choose to write a Will yourself there could be significant legal issues left for your executors to deal with. Do remember that it’s very important to keep your Will regularly reviewed, especially if you divorce or in the event of the arrival of children and grandchildren. It’s also worth noting that if you marry you’ll generally automatically revoke any Will you have in place.
STORING YOUR WILL
Once you’ve taken the time to create your Will it’s important to store it appropriately, and ensure your family and executors know where it is and how to access it. If you have chosen to work with a professional, they should keep a copy of your Will in safe custody and you can hold a hard copy for your records.
GETTING STARTED ON YOUR WILL
Over the years our friendly team has worked with many individuals and families to help consider their estate plans. We can help you plan and write your Will, ensuring that it contains all the relevant information you need it to, and reduces your family’s exposure to tax. We will spend time with you to discuss your individual circumstances, before drafting your Will for you to review and sign. We can also direct you to suitable experts where a foreign Will is also required. You can of course choose The Fry Group to act as an Executor, to provide support and guidance to your family at what is likely to be a distressing time.