At Salehs we encourage all clients to make a Will as we understand the importance of ensuring loved ones are looked after not only during your lifetime but after death. If a valid Will is not in place you lose the opportunity to express who inherits your estate.
If you do not have a Will in place at the date of your death, your estate will be administered in accordance with the Law of Intestacy. This is particularly important for separated individuals, unmarried couples and second marriages where there are children from previous relationships as the Law of Intestacy does not provide for blended families.
The consequences of not making a Will include:-
• Your assets will pass in accordance with the law of Intestacy, which does not necessarily pass your assets to those who you consider closest to you.
• A unmarried partner cannot benefit directly from your estate.
• You will not pass any assets to people who are not directly related to you, including step-children and your favourite charities.
• If you are separated but not divorced, your estranged spouse could still inherit and be responsible for administering your estate.
• You will have no say in who will look after your children if they are under 18 when you die.
• You will have no control over the age at which your beneficiaries will inherit.
• There could be increased cost and delay in administering your estate.
Our dedicated and experienced team can help you make a Will, the benefits of which include:-
• Appointing executors/trustees of your own choice to administer your estate
• Specifying funeral arrangements
• Appointing guardians for your young children
• Choosing who is to receive your possessions or property, and in particular making specific gifts to individuals or charities
• Creating trusts for children or other family members
• Protecting and safeguarding assets for future generations
• Mitigating Inheritance Tax liabilities
• Ensuring your estate is dealt with in the most tax efficient way
To ensure complete protection for you and your family, you’ll also need a Lasting Power of Attorney. Click here
Our team has extensive experience in preparing Wills and Trusts and listening to your specific needs and wishes. For further information please contact our specialist team on 0161 434 9991