If there's a Will, there's a way
02 November 2011
Making a Will - something most of us intend to do but often put off. If you haven't made a Will yet, you're not alone. Recent figures from Unbiased.co.uk show that almost 30 million of Britons do not have a Will, with 35 per cent of over-55s still without a Will in place.
November is Write a Will month and to celebrate we're looking at some of the reasons why making a Will is so important.
1 - You can make it clear how you want your estate to be distributed. You may want to leave a treasured piece of jewellery to your daughter or set aside some money for your grandson's education. A Will lets you list specific instructions about who you want your assets to go to.
2 - Protect unmarried partners. Without a Will, a long-term partner will not inherit anything, as only spouses and blood relatives are recognised in the Laws of Intestacy (the laws which dictate how your estate will be distributed without a Will).
3 - Make sure your spouse or civil partner receives what you want them to. Shockingly, without a Will, even your spouse or civil partner may only receive a certain amount of your estate.
4 - Make a difficult time a little easier for your loved ones. A Will makes your wishes clear, at a time when family members may find it hard to make decisions. A Will also avoids any lengthy and costly legal proceedings which may occur if you don't have a Will.
5 - Choose your own Executors. An Executor is the person who makes sure the instructions in your Will are carried out. You can choose someone you trust, such as your spouse, as the Executor.
6 - Avoid an unnecessary inheritance tax bill. Without a Will, your family could face a larger inheritance tax bill than necessary.
7 - Stops the state from inheriting. Last year the Treasury gained £53m from people who died without a Will. With a Will, this money could have been left to favourite charities or close friends.
If you haven't made a Will yet, don't worry. Key's hassle-free Estate Planning Service can arrange your Will over the phone, sending your documents to you in the post. A dedicated specialist will deal with your individual needs from start to finish, and we can also arrange your Lasting Powers of Attorney. We're members of the Society of Will Writers so you can rest assured knowing that you'll receive the very best service from Key.
Start planning for your future today and contact Key Estate Planning on 0808 208 4012. We're here Monday - Friday. 9am - 5.30pm.
Key Estate Planning is not regulated by the Financial Services Authority.