There are many reasons why creating a Will is beneficial.
It is always difficult considering death and one’s mortality. However, creating a Will makes it easier for your family or friends to sort out your affairs after death. Without a Will, the process can be more time consuming, expensive and more stressful, and could leave an uncertain outcome.
Writing a Will allows you to decide who will benefit from your estate and assets. A structure can also be put in place to provide how the estate will be distributed after death. For example, you may wish for your children or possible grandchildren to reach a certain age before providing them with their inheritance. A way of protecting their long-term interests is by creating a trust. For more information on how to create a trust, please contact us.
Most importantly, creating a Will is tax efficient. A will can help reduce the amount of Inheritance Tax that is payable on the value of the estate.
At Audley Chaucer, we have considerable experience in dealing with Probate matters and would be happy to help you construct your Will and discuss efficient tax planning. John Szepietowski or Kay Stewart would be happy to provide an initial free of charge consultation.
Joseph Beams
