Do you know what will happen to your estate when you die?
Wills aren’t just for the wealthy. It’s essential for all of us to plan ahead, knowing that our wishes are clearly set out and providing for those we care about.
Over half of UK adults don’t have a Will! If you haven’t written yours yet, or if your Will is out of date, March’s Free Wills Month is your chance to get this important document ready.
What happens if you die without leaving a Will?
Property will be distributed in line with laws which may not reflect your wishes.
If you’re not married or in a civil partnership, partners won’t automatically inherit an estate unless a Will has been made to say that they should. Instead, your estate passes to children (if you have any) once they turn 18. A Will is vital to protect your partner’s home, or their other financial affairs.
If you are married or in a civil partnership, your estate goes entirely to your spouse if you have no children, or will be split between your spouse and children if you have a family. Depending on the value of your estate, your family may receive a sizeable Inheritance Tax bill.
Making a Will allows an individual to plan for the tax-efficient distribution of an estate to make sure the interests of those we care about are protected.
Could a Will help to save on tax?
When you die, your estate may be subject to Inheritance Tax or Capital Gains Tax. In fact, more and more estates are now becoming subject to Inheritance Tax as a result of inflation and rapid increases in house values.
Professional estate planning helps us to get our affairs in order, lets those close to us know what to expect, and helps to provide long-term financial security for our families, saving time and legal costs further down the line.
Write your free Will & support charities close to you with Adroit & Octopus Legacy
Making a simple Will is easy and affordable, especially through Adroit Legal Services benefits. Clients may choose to write a free Will online, in-person or over the phone during Free Wills Month this March.
- Online: Support and an easy-to-follow process is on hand from industry experts at Octopus Legacy as individuals prepare their own draft Will online. A team of experts checks over each Will before it’s signed and witnessed.
- Over the phone or in person with Adroit Legal Services: Just call 0800 773 4014 to get started!
If more in-depth estate planning advice, or Wills for others, such as your spouse, are needed, our Will writers will provide a fee quote on our competitive rates.
This article has been prepared by Adroit Legal Services and is not intended to constitute legal advice.
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Practical bereavement support from the National Bereavement Service
The National Bereavement Service supports anyone who has experienced a bereavement, including sudden or traumatic bereavement, with practical and emotional information and advice from professional bereavement advisors with real, lived experience.
We help you to comply with legal requirements, signpost you to providers such as funeral directors and solicitors, and provide a listening ear that helps you through a very difficult time.
For personal, confidential, and practical help following a bereavement, or for advice when planning your future, call the NBS on 0800 0246 121 or visit www.thenbs.org
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Established in 2015, Adroit connects your people and your customer base to quality-assured, affordable and accessible legal services from trusted and experienced experts.
Legal specialists throughout the UK are tried and tested, delivering honest advice whatever stage of life you’re at to protect your interests, family and wellbeing.
Adroit’s panel of advisors, including estate planning and LPA specialists, offers a free initial consultation and discounted rates to make legal services accessible to everyone that’s important to your organisation.
Contact Adroit Legal Services to find out how we help our clients to protect their peoples’ wellbeing with access to quality-assured, great value legal services.
