Generally, you would make a will for one of the following reasons:
- To mitigate or reduce your exposure to inheritance tax
- To ensure that your hard earned wealth goes to your loved ones and down the generation ( inter-generational transfers)
- To ensure that your assets are protected from dilution
Making a will gives you control over how you would like your wealth to be distributed when you are no longer here.
Failing to make a will leaves your loved ones in a very insecure position. This could result in your partner or spouse having to sell your family home to pay for inheritance tax. The rules of Intestacy are very strict which means that your loved ones will be left in an unprotected vulnerable position.
Making a will allows you to leave assets to specified beneficiaries and it allows you to estate plan tax efficiently.
Depending on the complexity of your wishes and the value of your estate, it may be sensible to consider seeking professional advice for your will. If you want to ensure that your wishes are adequately reflected and carried out, you should certainly consider our professional legal services. Its what we do best.
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