Most people would agree that making plans to secure their family’s financial future is an important and a sensible thing to do. Yet, many don’t make a will and those who do often leave it until they are nearing, or are in, retirement, or until it is too late to do so. Here at Challenor Gardiner our team can help with all aspects of Wills and Estate planning, covering Woodcote in Wiltshire.
You might think that you are too young, you are in good health or there’s plenty of time, but consider what would happen to your estate if your life was suddenly cut short or you lost mental capacity and you hadn’t made a will.
Even if you have already made a will, have you considered if it might need reviewing to ensure it is up to date and reflects your circumstances and wishes.
Making a Will Guide
Have you ever stopped to think about what might happen if you haven’t made a will?
- Would your family be protected financially?
- Would your estate go to the people you want it to go to?
- Might your estate be liable to Inheritance Tax on your death and what could you do about it now?
- If you are cohabiting, but are not married, your blood family would inherit your estate on intestacy, but not your partner.
- You might be thinking that you don’t need to make a will as everything goes to your spouse anyway, but that’s not necessarily the case if you have children.
If you marry, your will is automatically revoked. If you intend marrying you can make a will in contemplation of marriage so that your will remains valid after your marriage.
Cohabiting with your partner is another time when you should think about making or reviewing a will, particularly if one of you owns the home in their sole name. Talk to us to ensure your interest in your home goes to the person you want or who needs the security of a home, usually your partner and any children.
If your personal wealth has grown since you made a will then your estate could be liable to IHT on your death and a financial check and a new will could be essential. Contact us to arrange a consultation so we can help you assess your needs and priorities, as we provide help throughout Wiltshire.
Changes to the tax legislation can have important financial consequences for those you have provided for. If you made a nil-rate band discretionary trust will many years ago you may be surprised to know that it may no longer tax efficient, for example.
If you have children with special needs, you may need to consider setting up a will trust specifically for them.
You might think that you are too young to do so, you are in good health or there’s plenty of time for you to make a will, but consider what would happen to your estate if your life was suddenly cut short and you hadn’t made a will.
Make a Free Enquiry
Now could be the time to find out more. Our lawyers at Challenor Gardiner have a wealth of experience in dealing with these and many other circumstances for clients in Oxfordshire, and surrounding areas including Woodcote in Wiltshire and up and down the country and will be able to guide and advise you. You will have peace of mind knowing all your affairs are in order. Contact our friendly and knowledgeable team to guide you through the process quickly and easily. All initial enquiries are without obligation, so call us on 01865 721451 or, email info@challenor-gardiner.co.uk or complete our Free Online Enquiry contact form.