Why it is important to make a will?

It is important for you to make a will because:-

• if you die without a will, there are certain rules which dictate how the money, property or possessions should be allocated. This may not be the way that you would have wished your money and possessions to be distributed
  
  
• unmarried partners and partners who have not registered a civil partnership cannot inherit from each other unless there is a will, so the death of one partner may create serious financial problems for the remaining partner
  
  
• if you have children, you will need to make a will so that arrangements for the children can be made if either one or both parents die.
  
  
• Some parents have children with learning disabilities who will never be able to manage their own resources and worry what can be done at a time when both parents have died.
  
  
• you can “protect” your assets to prevent beneficiaries making poor choices or remove the risk of failing performance of investments in difficult markets.
  
  
• it may be possible to reduce the amount of tax payable on the inheritance if advice is taken in advance and a will is made
  
  
• if your circumstances have changed, it is important that you make a will to ensure that your money and possessions are distributed according to your wishes. For example, if you have separated and your ex-partner now lives with someone else, you may want to change your will. If you are married or enter into a registered civil partnership, this will make any previous will you have made invalid unless you specifically make the will in contemplation.

It is not morbid and you will be amazed how quick and painless the process is, if you use Solicitors with the required expertise.

We have years of experience in preparing wills tailored to our clients individual circumstances and needs.

Please contact Jean Nixon for further information by:

• Email jean.nixon@bhmllp.co.uk
• Telephone 01604 624822