There is a general perception that Wills are for the elderly and those in ill-health but life is uncertain. Everyone needs a Will, to ensure your hard earnt assets are protected where possible and go to the people or causes which you care the most about.
We always recommend that you create or review your Will when your circumstances change or if your Will was done a number of years ago. This could mean after you have bought property, are contemplating marriage or divorce, after having young children or obtaining assets such as investments. Changes in law and taxation also mean that you should review your Will every few years. Particularly in the current climate, many people are looking to get their affairs in order. We at Enoch Evans LLP, have continued in recent months to be able to assist with this demand. We are and will remain committed to providing new and existing client’s with the best possible service at what remains a difficult and challenging time.
Why do I need a Will?
It is entirely up to you if and when you want to prepare your Will, but you should be aware of the consequences of not having one. Without having a valid Will in place by the time you die, there are certain rules, known as the ‘Rules of Intestacy’, which apply to your Estate that are beyond the control of those around you. These rules can result in people not benefiting from your Will that you would otherwise have wanted to, or assets not being protected for the family.
While the prime purpose of a Will is to ensure your Estate reaches the right people, having a Will also enables you to appoint legal Guardians to have parental responsibility for your children, protect assets in your Estate from claims against them in later life and provides the opportunity to review your current tax position.
The expert lawyers in the Wills, Tax and Probate team at Enoch Evans LLP have a wealth of experience in advising upon and drafting Wills. The team based in Walsall and Sutton Coldfield are also experts in providing bespoke advice upon how best to reduce the Inheritance Tax that will be due on death. The Department is accredited by the Law Society for membership of its elite Wills and Inheritance Quality Scheme (‘WIQS’). Enoch Evans LLP are also happy to store client’s Wills securely; this offers client’s peace of mind that the Will can easily be located by your Executors following your death and that your wishes will be followed.