Wills are an important and effective way to give effect to the wishes you have for your estate after death. This can relate to who inherits your estate, who is to deal with the administration of your estate and even any funeral wishes you may have.
Young families or families with adult dependents can use Wills to appoint guardians or trustees for those left behind. Similarly, pet owners may wish to set out provisions for rehoming their animals after they have gone.
Additionally, writing or reviewing your Will presents a great opportunity to consider the likely Inheritance Tax position of your estate. Your Will can then be utilised to make your estate more Tax efficient.
There is an ever increasing market for Will-writing and there are many options for the customer to choose from. However, according to the Legal Ombudsman, tens of thousands of people may have bought defective Wills through unregulated Will-writing organisations. The risk with unregulated Will-writers is that customers have nowhere to turn for redress; some Will-writers may be unqualified and uninsured meaning that there is no recovery for loss in the event that negligent advice has been given. Having a Will professionally drawn up by an independent solicitor gives you peace of mind. If you would like advice regarding an existing Will or are thinking of having a Will drawn up contact our Wills and Probate Team on 01279 755777, or get in touch with Peter King, Partner in our Wills and Probate Department.