Where There's a Will
Rosalind Johnson - Private Client Partner
If you would like to discuss making a will or changing an existing one, please contact me on 01580 762248 or email info@pengelly-rylands.co.uk.
As many as seven out of ten people die without a will, which is very hard on those left behind. Without a will, which appoints executors, there is no one to immediately take charge of your assets or organise your funeral, and most importantly, if you die without making a will the law will decide who, if anyone, inherits your estate.
I would advise everyone over 18 to think about a will – certainly as soon as you acquire any assets, co-habit, get married or divorced, have a child or set up a business.
If you wish to make a will there are a number of things you will need to think about.
- Who will be your executors? Choose people you can trust and who will be efficient and able to deal with things sympathetically
- If you have young children, who will look after them from day to day if you die? Do you need to appoint a guardian?
- Do you want to leave a sum of money or a specific item to a relative or friend?
- Do you want to benefit a charity of your choice?
- If you or your spouse has been married before how do you wish to divide your assets?
- If you have a child who is handicapped, or who cannot manage their financial affairs, how would you like to provide for them?
- If you have animals, what do you wish to happen to them if you die? Animals can be expensive to look after, should you provide for this?
- What would you want to happen if one of your beneficiaries died before you?
At Pengelly and Rylands we can help you to answer these questions as well as advise you on inheritance tax and how your will can be drafted in the most tax efficient way.
Once you have made a will it should be reviewed at least every five years or after any life changing event and minor changes can be made by way of a codicil.
Talking with people about their lives and plans is a privilege, and in discussing their wills and what they want them to achieve I help people protect their past, present and future.
Published December 2009
