Everyone should make a will. If you die without making a will the law dictates who receives your assets and this can sometimes lead to unexpected and unfortunate consequences. Your spouse may not inherit the whole of your estate and if you are not married the law will not recognise your partner at all.
Making a will allows you to decide what happens to your estate when you die, it also prevents extra worry to your family at the time of your death.
Making a will, and reviewing it regularly, is particularly important if:
- You marry – marriage usually revokes an earlier will
- You need to provide for children, especially if you are divorced or separated
- You wish to make a gift to charity
You may be concerned that your husband, wife or partner may need longterm residential or nursing care after your death. You may fear that the costs of this care would severely deplete the estate ultimately passing to your children or other beneficiaries. A trust in a will can be used to protect assets, ensuring that they pass down to the next generation or chosen beneficiaries.
You may also want, through the use of trusts, to ensure that, if your husband, wife or partner were to start a second family after you have died, your assets still pass to your own family, even though your husband, wife or partner has the use or enjoyment of them during their lifetime.
At Twomlows we offer detailed advice tailored to your circumstances before drafting your will and a detailed explanation of the terms used.
We send you a draft of the will to consider and we can store the final document for you.
We also provide advice with:
- Inheritance Tax planning
- Elderly client services
- Lasting Powers of Attorney
- Court of Protection