if you already have a will, can you be sure that it
is tax efficient based on the latest laws and regulations?
In order to ensure that you protect your family and
friends after your death and that your estate is dealt
with in the manner of your choosing, it is essential
to make a will.
Every day, over 2,000 people in the UK die without making
a will. If you don't have a
court may decide who looks after your children
you are married, your spouse does not automatically
you are not married, your partner may not inherit
you are single the Crown could get everything
your estate exceeds the current threshold (£325,000),
40% Inheritance Tax could be applied
There are a number of areas you need to consider. For
- If you die, will your spouse
have to sell the family home? Or will you have to
sell the family home if you go into care and your
partner dies before you?
- How will your property and possessions be distributed?
- Will your children and grandchildren be cared for
as you would wish by legal guardians appointed by
- Who will carry out your intructions when you die?
Who would you like to act as your trustees and will
there be any cost to your family?
- Are there any special gifts for friends, relatives
- What about your pets? They could be destroyed without
provision in your will.
- If you have a business, will your family or partners
be allowed to carry on without you? How can you ensure
they are able to obtain income from your work?