Will Planning
Will planning in the UK is the process of creating a legal document that outlines how you want your assets and property to be distributed after your death. This document is called a will, and it is an important tool for ensuring that your wishes are carried out and that your loved ones are taken care of after you’re gone.
Everyone should have a Will. Without a Will the Law of Intestacy will apply to your estate and the distribution of assets will be at the behest of the Government. This may not be what you want to happen. There are many misconceptions, including that “everything goes to my spouse when I die”. This is not true. The spouse is only entitled to a certain amount with the remainder being divided amongst other relatives.
Think of Will Planning like making a list of all your favourite things and who you would like to have them. For example, if you have a special piece of jewellery or a painting, you can specify in your will who you would like to have it. It’s a way to ensure that your memories and sentimental items go to the people who will appreciate them the most.
Will planning can help you save money on taxes and other costs. By planning in advance and making sure everything is in order, you can help your loved ones save money and keep more of your assets. This can be especially important if you have a large estate or own property.
In summary, Will planning is essential to ensure that your loved ones are taken care of and that your wishes are carried out.
Get your Will Planning done by professionals today. Call us or use the contact form below.