Make 2023 your year

Will you make the most of every second?

If we knew our expiry date, we could live fully right to the very last second. But we don’t. We can’t know. Even if we’re fit and healthy, illness and accident are part of being human. Life is full of surprises - good ones and bad.

Putting off making a Will is understandable.

You probably think it’s morbid, expensive, and time-consuming. Something you can put off until you’re retired or in your 70s.

Here’s why you need to make a Will:

Are you married?

Without a Will your husband, wife or civil partner may not automatically inherit all of your estate.

Do you live together?

Cohabiting relationships are not recognised in English law.

Without a Will the law treats you both as single people, and your partner would receive nothing. You would have to challenge the law in court, with the expense of legal proceedings.

Do you have children?

If you’ve missed the chance to select guardians for your young children, the Public Guardian (social services) may be involved in your children’s personal lives. All parents know how important it is to make sure that children are cared for by someone special.

Do you have children from a previous relationship?

If you are now married, your children from a previous relationship may inherit nothing.

Are you a property owner?

You should specify who you wish to inherit or live in your property after you have passed away. It’s sensible to consider protecting your share from being used to pay for your partner’s later life care.

Do you have grandchildren?

You may want to add your new grandchild to your Will so they inherit something directly from you.

Are you happy for the state to decide who inherits from you?

In a disaster (where your close family passes away together), your estate may go to a relative that you may have never met. With a Will, you could choose to benefit your favourite charities instead of people you don’t know or like.

Your children may not receive the amount you wanted them to receive, and they will inherit at 18. Many parents think 21 or 25 is a better age for inheriting a large sum. Certain assets that you may have wanted to secure your family’s happiness may have to be sold.

You cannot decide what will happen if a family member dies before you. The inheritance rules relating to legitimate children, adopted children, and stepchildren may surprise you. A Will is crucial if you want your stepchildren to inherit.

A family business or heirloom may not stay in your family. It may have to be sold to pay any outstanding debts. When there is something of significant value like a business, it is essential to plan to avoid potential conflicts.

Ultimately, without a Will, you cannot exclude or include beneficiaries. You must depend on the law to decide the economic fate of your family and loved ones.

How do you decide who to ask for help?

There are online services, home visit services and the traditional options of going to a local solicitor or a bank. 

As with any significant purchase, it is good to make enquiries and shop around.

Be sure to check qualifications and credentials.  A recommendation from a friend or colleague can be helpful.  Free will drafting services often appoint a professional executor who will charge fees to administer your estate. You may not realise you can nominate a member of your family or a friend, so they have the option to choose who to ask for help.

Free Wills

Many free Will services use pushy, hard sell tactics - they will often pressurise customers to buy additional services such as life assurance policies, house or car insurance or to renew a mortgage. Some insist you include them as professional executors and trustees. Some want you to buy an expensive lifetime trust that you may not need. These firms may charge your family a hefty fee or percentage of your wealth when you die. We don’t do any of this.

We don’t write free Wills. We charge a reasonable fixed fee that covers our time and resources. Your family is free to choose who they want to help them deal with your estate.

No hard sell. If we spot a gap in your financial planning, we’ll tell you. It’s up to you if you decide to take action. We can refer you to a trusted professional adviser if you ask us to.

We don’t spam. We may write to tell you about changes to the law that affect you. There’s no obligation on your part to follow our advice or use any of our services.

Call us for free advice or to make an appointment. We promise no hard sell, no added extras, just affordable peace of mind.

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