60% of adults in the UK are avoiding putting a Will in place.

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Generally, nobody wants to think about dying. At Town & Country Law, we believe that making a Will is just as much about living.  Your Will shows what is most important to you, who you care about and which good causes are closest to your heart.

Every Will tells a story of someone's life. Wills can tell stories of the general trials and tribulations of life as well as telling stories of love, care and compassion.  And importantly, having a Will ensures that your story is told by you.

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What if I die without a Will?

If you die without a valid will, you have died intestate meaning that everything you own at the time of your death will be distributed according to intestacy rules. Generally, this may not be a reflection of how you live and what you care about.

Dying intestate can also result in an unexpected bill for inheritance tax (IHT). A common question is “does a spouse automatically inherit everything UK”. The answer to this is, if you have substantial assets and are married with children, the intestate rules award the first £250,000 to your spouse and half the remainder to your children. Unlike your spouse, who is exempt from IHT, your children will have to pay IHT if the total estate is above your allowance.

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What information is usually in a Will?

Your Will firstly states your name and address. It will then appoint your executor(s), the person(s) who will be in charge of making sure the Will is carried out. The main part of the Will identifies your assets (like property, bank accounts, businesses or other belongings) and the people who you want to leave your estate to. You can then also include funeral arrangement preferences and appoint guardians for your children.

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Overview of what is included in a Will:

• Your personal details

• Executor details and reserves

• Details about your assets

• Beneficiary details and reserves

• How your estate should be distributed

• Funeral arrangements - being buried or cremated

• Guardian details

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Your wishes – there are many straightforward wishes that you may want to have carried out by your executors. However, some Wills have to be more complicated due to the complex times that we live in. For instance, you may have a child that you worry has married the wrong person or a family member that is vulnerable. Whatever your circumstances, writing a Will is the only way to make sure that your loved ones will continue to be taken care of in the best way possible.

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What Information Is a Beneficiary of a Will Entitled To?

A beneficiary of a Will is entitled to know what, if any, property or possessions they have been left, as well as the full inheritance they will receive.

What if I write a Will but my life changes?

We never know what life is going to throw at us. Someone who has always been close can suddenly turn out to not be the person we once thought they were.  For this reason, Wills can be changed.  Your most recent signed Will is always the one that takes effect so make sure you keep it up to date to match your journey through life.  

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Did you know…?

When you marry, your Will is automatically cancelled and is no longer valid. If you do not make a new one, then when you die the law of intestacy decides how your assets are divided. So, if there are major events in your life, creating a new Will is a good idea.

Whatever stage of life you are at – don’t delay writing your Will.  Call Town & Country Law today so that we can arrange for one of our friendly, experienced advisors to listen to your story and make sure that your Will suits your needs and circumstances. We have Will writing services in Leeds, Lincoln, Derby, King’s Lynn, Peterborough and nationwide.