Law firm Thomas Eggar is encouraging those that don’t have a will to sort in, in support of Will Writing Week.
Currently only three in ten people in the UK have wills but with complex modern families and complicated financial affairs, having a will is vital to ensuring your wishes are carried out post death.
Meanwhile, a will can also provide important tax savings.
John Bunker, head of private client knowledge management at Thomas Eggar outlined a number of benefits of having a will, as well as how to get one.
He said: “Everyone needs a will. Without a will the rules of intestacy can cause major problems even in the most straightforward family when the children inherit a significant part of the estate forcing a sale of the widow or widower’s long term family home.
“Our wishes are rarely straightforward and embodying those wishes in a will whilst minimising the effects of taxes and charges is a task for an expert.”
He explained that there are new plans to regulate the writing of wills to protect consumers. In the meantime, it is best to look for a solicitor who’s a specialist – one who is a member of the Society of Trust and Estate Practitioners (STEP), he said.
He also said that it is worth looking at an off-the-shelf will.
Bunker added: “There can be many hidden traps in a will, with detailed points about wording, about things that do or don’t need to be included, and so many wills made with the best of intentions leave cause for dispute or misunderstanding.”
Loading ...