Is writing a will on your ‘to-do’ list?
John from A R K Lasting Powers & Wills shares his top five reasons to make a Will today. A R K will donate 10% of Will fees paid by Anne Robson Trust supporters to our charity’s work.
Some people feel that they don’t need to make a Will – perhaps they think they’re too young, or that they don’t have much to leave after they’re gone. Others have it on their to-do list, and think they’ll get around to it at some stage. Some people feel daunted by the process and don’t know where to begin.
The fact is that a Will helps to protect your loved ones and ensures that your wishes are honoured after your death. There are a lot of benefits to writing a Will and here are the top reasons for doing it today.
1. Provide for your loved ones
A Will ensures that your money and assets go to the people who you want to inherit. Without a Will there is a strict order of inheritance under the Laws of Intestacy – and that may mean that the people you expect to inherit wouldn’t do so.
2. Protect your partner if you’re not married
If you and your partner aren’t married or in a civil partnership, they have no right to inherit your estate after you die, unless you leave it to them in your Will.
3. Decide who will look after your children
You can specify who you would like to take care of your children after you’re gone. Without a Will, the court wouldn’t know your wishes and would choose your children’s carers from family members or state-appointed guardians.
4. To reduce how much Inheritance Tax will be paid when you are gone
Writing a Will can help to reduce the amount of inheritance tax that has to be paid on your estate. Did you know that if you donate 10% of your estate to charity, Inheritance Tax is paid at 36% instead of at 40% on anything over the Inheritance Tax threshold?
Once you have provided for your loved ones, you can use your Will to donate money to causes that are close to your heart. Your generosity can live on through you if you leave a gift to a charity such as Anne Robson Trust in your Will.
5. Safeguard the family home
You may have specific wishes for who should inherit your home after your death. Stating this on your Will can help to avoid disputes between family members over the property. It is also possible use a Will to protect your share of a property from third parties such as a new partner, or care fees for your spouse after you are gone.
The bottom line is – it is always easier for those left behind if a Will exists.
For more information about making a Will contact A R K Lasting Powers & Wills Ltd (www.arkpowers.com) They are a local company who pride themselves on looking after local people. Call on 01438 746977 or email info@arkpowers.com.
A R K can also help with related issues such as making Lasting Powers of Attorney. They offer free initial advice after the loss of a loved one, and can assist if Probate is needed.
The fee for a single Will is £155 and for Mirror (couples) Wills it’s £285 (no VAT).
10% of any Will fee paid to A R K by Anne Robson Trust supporters will be donated to the charity to help them continue their amazing work.
We would be hugely grateful for any additional donation you feel able to make to support our work, once you have taken care of your loved ones.
