If you have anything of value to leave when you die, or you have dependents or children that are under the age of majority, then you should have a Will that appoints guardians and allocates your wealth appropriately.
If you remarry, you will probably need to redraft your Will to take care of blood relatives and children from former marriages. If you own a business, you will need a Will to make arrangements for the distribution of shares and perhaps even appoint directors in your stead, subject to the control of the business that your shareholding allows.
If you own property you may need a Will to make provision for its sale and/or management in the short and long term. However, if your property is owned with others as tenants in common, then your share of the property will pass directly to them on your death, outside the Will. Do you want that to happen?
If you are wealthy, making provision for efficient tax planning is important and a Will allows you to set out such requirements clearly for your executor or trustees. Furthermore, if you are incapacitated due to illness, you may benefit from a prearranged ‘life will’ which makes provision in the event of your incapacitation, including the grant of a power of attorney.
If you have any wealth or responsibilities, or a desire to dictate anything in regard to your funeral, then you need a Will!
For more information see our Wills and Estate Planning page or speak to an adviser on 01628 507477.
Download our Free First Time Buyers Guide
Recent posts
Research from buy-to-let lender, Landbay, shows that UK landlords are looking at raising rents ahead of the Renters' Rights Bill which is due to come into force this year.
Data shows landlords could miss out on green mortgages due to expired energy performance certificates.
Buying a house is a big deal, and where you are planning to buy will make a difference financially. In this short blog, we look at the most affordable and most expensive areas and how much you need to be earning to buy in there.
Pros and Cons of Equity Release
14 days ago
Equity release is a type of mortgage that allows homeowners 55 and over to access money from their property's equity without having to leave their home. This is done by securing a loan against the house which is usually repaid by selling the property when the borrower passes away or has to move into long-term care.
Your House Viewing Checklist
15 days ago
It’s important to ask questions about the property you are interested in before taking that step to make an offer. A little probing can make all the difference between buying your dream house or something that requires a lot of work.
Half of over 60s predicted to benefit from accessing housing wealth through Equity Release
18 days ago
There are millions of homeowners over the age of 60 who are likely to release money from their homes to pay for their lifestyle during retirement giving those who are 'asset rich but cash poor' a way to live out their retirement the way they wish.
Average Age of the First Time Buyer in the UK
25 days ago
The average age of a first-time buyer in the UK is two years older than 10 years ago. This is understandable with managing the cost-of-living and challenges within the economy such as high interest rates making it difficult to get onto the property ladder.
Delayed Start Mortgage from Skipton
27 days ago
Skipton Building Society launches ‘Delayed Start’ mortgage meaning first time buyers won’t be required to make repayments for the first three months.
According to a survey by Skipton, first time buyers who bought their home in the last five years found that in the first three months of living there, they were spending upwards of £30,000.
More information
Trusted by
