|
Estate Planning
|
|
 |
People keep telling me I should make a Will. Does it really matter?
Dying without a valid Will could be unfortunate for your family because your estate would be divided according to the intestacy rules, which may be very different from what you would intend.
Failing to make a Will has other consequences:
- The welfare of infant children is handled by appointed administrators rather than the guardians you choose
- Common law 'partners' do not benefit, although they can apply to the court for 'reasonable provision'
- Intestacy rules rarely produce the lowest possible inheritance tax bill
- Increased stress for the family and the possibility of disputes
- A slower process for obtaining probate and the disposition of your estate
A regularly reviewed Will also makes better provision for changes in the value of your assets. You may need an enduring power of attorney to appoint someone you trust to deal with your affairs.
|
