Q. Can you guarantee that your assets will be left to your loved ones in the event of your death?
Q. Do you have a named guardian for your children? One who will take care of them when you are longer around?
The proportion of UK adults that don't currently have a Will is well over half the population. This amounts to more than 31 million people who are risking everything they own being legally divided and shared rather than divided and shared as a result of your wishes.
Your Will is a legal document that sets out your wishes regarding the distribution of your property and the care of any minor children (those under the age of 18). To maximize the likelihood that your wishes are carried out, your Will will be set out in writing, and signed by you and your witnesses.
If you do not currently have a Will, then those who you want to leave your assets to may not receive them in the event of your death. If you are unsure where to start, then feel free to give Lacuna Wills a call to discuss your options, or arrange a no obligation visit to talk things through in the comfort of your own home.
For most of us, young or old, making plans to ensure that our loved ones are taken care of once we have gone, and making sure that they get the maximum benefit from the assets we have managed to acquire through hard work, is one of the most important things we will ever do. However, it’s not just how much we are leaving that is important. It’s crucial that our assets are well protected and secure so that your loved ones receive the maximum inheritance when you are gone.
"The good life is one inspired by love and guided by knowledge" Bertrand Russell
Having a Will drawn up can often be a task that is pushed to the side due to the misconception that it is timely, costly and will be too emotional. Our experienced and knowledgeable Will writer can ease your concerns by informing you of the process, and competitive prices involved, to put the documents in place that offer you a big piece of mind.
If you have dependents then it is important that you have a Will in place to ensure that you have named guardians who would take on your role when you are no longer able to. There is also a document that you can add called a Memorandum of wishes, which offers a personalised description assuring that your children will continue to be raised as closely as possible to how you would have done yourself. This document also enables you to note your wishes, directing your trustees for the funeral arrangements of your choice.
We can give you experienced advice to increase your knowledge of the options you have available, so that you can make an informed decision, and make sure that your wishes are upheld. It is much easier than you may think, and much quicker when you have the experienced support of our Will writer.
Frequently Asked Questions
Having a Will in place gives you sole discretion of how your assets will be distributed to your loved ones. It enables you to decide who you would like to leave your family possessions to, such as cars and bequests. It also means that your businesses or investments can be transferred smoothly.
If you have children under the age of 18, then you can name a person who will have guardianship over them, also to name children from previous marriages that you would like to leave assets to.
You are able to reduce potential tense situations and disruption to family and loved ones by having the distribution of your assets clearly defined within the legally binding Will document.
If you are predisposed to wanting a charity to benefit from part/ all of your estate, this can also be defined within your Will.
A living Will provides health care instructions, such as whether or not you would like to be resuscitated or put on life support, should a situation arise. A last will is the document stating how you would like your assets distributed in the event of your death.
If you die without a Will in place, your money, property and possessions will be shared out according to the law instead of your wishes. This means that assets could pass to those for whom you had not intended, and those that you had intended to benefit, receive little to nothing at all.
Typically assets are left to the spouse. In the event of there not being a living spouse, then the assets are shared amongst the children equally. If there are no children, then assets would be passed onto the nearest living relative, once it has been passed through probate, which could be a very timely occurrence
The simple answer is no, you can create a Will to distribute as little as £10 or £10 million. The only difference is the tax implications that it will attract. It is important that you understand how inheritance tax is worked out, and with this knowledge create an informed estate plan.
Discussing estate planning with our experienced Will writer can inform you of the different options that you have, to ensure that your loved ones will be due to inherit as much of your hard earned estate as possible.
Lacuna Wills can help with this. Wills are not necessarily complicated, but there can be a lot of aspects to a Will in order to make them bespoke to you and your situation. Family dynamics can be very different, and there are ways of writing a will to ensure that your wishes are upheld as stated by you and your assets distributed as per your instructions and behests. The most important thing is that you don't neglect planning your estate. It's the best way to protect your loved ones and make sure your assets are distributed according to your wishes.
What our clients say about us:
“We had talked about sorting our Wills since our eldest was born but it took the loss of a loved one to finally get it sorted, we were both apprehensive as it was an emotional time but Chris was so patient, empathetic & took us through each step with no pressure. He came to our house which made the process even easier with 2 small children & made me feel like no question was a stupid one! Thank you Chris for making the process easy, understanding what we were asking for & keeping us sane at an emotional time!"
If you have any other questions, however insignificant you may feel then to be, send us a message or arrange for us to visit you to discuss your options further.