If you care about what happens to your dependent children, money, home, and other property after you die, you need to do some planning. Even if you're young or your estate is modest, you should always have a legally valid and up to date Will. Dying without a Will means your estate is distributed according to the law of intestacy and is unlikely to reflect your wishes.  



Why make a Will?

• to make provision for your (unmarried) partner who would otherwise not benefit at all
• to appoint guardians for young children (without appointment by Will, it could rest with the courts to decide who look after your children)
• leave gifts to friends, family or charities
• decide the age a minor may inherit
• plan for Inheritance Tax
• choose someone you trust to administer your estate
• plan for future long term care needs
• help avoid family arguments
• make your funeral wishes known
• ensure the people you want benefit from your estate and avoid anything going to those you don’t

What could make an existing Will invalid or in need of updating?

• Changes in marital status (marriage, divorce, separation)
• Birth of children & grandchildren – if children / grandchildren had not been mentioned in an earlier Will, they may not inherit anything. If children had been mentioned specifically by name, additions to the family since may be disinherited.
• Changes in wealth for example receipt of an inheritance – could lead to a large inheritance tax bill or could lead to large sums of money going to the wrong people.
• Changes in law could mean old trusts no longer have the desired effect or may not be as tax efficient as intended.
• DIY Wills are fraught with potential problems, the consequences of making a mistake could be severe – our advice is leave it to the experts!

The foundation of all financial planning is having the correct Will in place.