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Death and taxes…Why you should make a Will

This is the question which has been asked for over two centuries and surprisingly, in our ever-changing world, many of the answers remain the same.  We all spend our lives working hard to provide for ourselves and our loved ones and, however different our lives may be, there is one thing that we will all have in common, none of us can avoid death.
Perhaps age truly does bring wisdom and with it a sense of our own mortality which for some people brings clarity in terms of reasons to making a will…the same reasons that can apply to anyone at any time.  You want to ensure that the things you have worked hard for go to the people that you wish to inherit.  If you do not have a Will then you have to rely on the Intestacy rules on who should inherit, which can lead to distant relatives who you have never known inheriting from your estate.  You may prefer it to go to certain members of your family or people who have known you, or charities that have helped and supported you.  The only way of ensuring this is to make a Will.
In your Will you can also decide the people who you know will be able to sort everything out for you.  These are known as executors, and while anyone can be an executor (as long as they are over 18, have capacity and are not bankrupt), not everyone would want to be one. That’s why you can choose people who you believe would be the best, whether it is family members, friends, or a professional such as a solicitor.
What people often forget is that a Will is equally as important when you have young children.
• You can nominate who you would like to be responsible for your children should something happen to you.
• You can ensure that where there are children from two families that each family’s interests are protected.
• You can make gifts to thank people for their help during your lifetime.
• You can make sure family businesses can continue.
• You can even use your Will to put assets into trust to protect people who may be vulnerable.
So the question should perhaps not be whether you should make a Will but whether you can afford not to?
At Wilson Browne Solicitors we make the process of making a Will as easy as possible.  We like to think of it as being prepared for the future.  All you need to do decide who it is you would want to benefit in your will; whether you want to leave specific items to certain people; would you like to leave set sums of money or legacies to people or charities; who do you want to inherit the main part of your estate; who will act as your executors and who will look after your children?
You’re never too old to make a Will: One gentleman recently came to see us aged 92, having had a Will on his ‘to do’ list for years. Once done, he said he wished he had done it earlier as he could finally stop stressing about it