Will Writing
Creating your legacy
What Exactly is Will Writing? Why do I need it?
The Basics
Writing your Will is probably something you have thought about many times but have put off for a variety of reasons. Despite it being one of the most important documents you will ever write, a staggering two thirds of UK adults have not made a Will. Dying without a Will can lead to severe financial difficulties and confusion for those left behind which could have been avoided if suitable advice had been sought.
Why should I make a Will?
- A Will allows you to make your wishes known and decide how your estate is to be distributed.
- Knowing that your affairs are in order gives you peace of mind and it ensures that your loved ones have one less thing to worry about during an already difficult time.
- Making sure that you have a Will is not enough: it must be the right type of Will. That is, one that is professionally drafted to ensure that it fully takes care of your wishes and needs.
- The process is much simpler than you may think, usually requiring no more than two appointments in the comfort of your own home, workplace or at our office in Bedford.
Advantages of having a Will:
- Specify whom you wish to inherit your estate, in what order and in what proportions.
- Make specific gifts to family, friends or your favourite charity.
- Appoint suitable guardians to take care of your young children rather than leaving the decision to the Courts.
- Create trusts for children to protect their inheritance until an age specified by you.
- Protect the inheritance of your children or other beneficiaries should the surviving spouse/partner re-marry.
- Ensure that your partner benefits from your estate.
- Prevent your share of property from being sold to pay for the survivor’s future care fees.
- Avoid paying 40% Inheritance Tax on your estate, so giving more to your chosen beneficiaries rather than the Government.
What if I die without a will?
A Will is your opportunity to make your wishes known, without the Government decides who will inherit your estate using the Laws of Intestacy.
These rules are outdated and don’t take into account modern ways of living, such as unmarried couples who co-habit (in which case your partner may not get anything).
In some cases, it is even possible for an ex-spouse to make a claim for whole or part of your estate after your death.
Legal Document Storage
The Goodwills storage and amendment service provides two very important benefits after you have made your Will.
Secure storage ensuring that your will is kept safe. We are also able to store other documents such as Lasting Powers of Attorney and bee deeds for properties. Amendments Service: ensuring that your will is kept up to date, simply and without having to pay every time you need to make an amendment