DO YOU ALREADY HAVE A WILL?
Some estimates put the number of people in the UK who have not yet gotten round to writing a will to be as high as 70%.
If you already have a will, you are one of the exceptions and clearly have a responsible approach to planning your personal affairs. After all, being intestate does no favours to those you leave behind – delay, frustration and uncertainty. There is also the prospect of Inheritance Tax if correct estate planning strategies are not in place.
For people with an existing will, it’s advisable to maintain a ‘watching brief’ to make sure that it is genuinely up to date and relevant to your situation now. Major life events will impact our personal circumstances many times across the years. Examples include getting married, having children, getting divorced, becoming widowed or accumulating personal wealth above the Inheritance Tax threshold. What was considered adequate provision when it was first drafted can make an existing will less than sufficient to protect your current interests – let alone those in the future.
- Are you completely sure that your will is totally robust?
- Have you had any major life events not dealt with by your current will?
- Have you reviewed your existing will during the last two years?
If the answer to any of these questions is ‘no’, think carefully. It may be that everything is fine – but amendment or a completely new will may be the best way forward. Until you have a review you won’t know.
The one thing that you really should not put off any longer is making a will. You can take advantage of our no obligation, confidential Will & Estate Planning review today. We will explain the options available to you - so you can make an informed decision about how to proceed.
