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Surprisingly some people believe that by arranging a Will they will somehow hasten their death. There is no scientific evidence to back these beliefs. However there is plenty of evidence that not arranging a Will could mean the deceased person’s assets are passed to the ‘wrong’ people. Alternatively and in addition the value of their estates could become subject to unnecessary Inheritance Tax.
Those people that die without having drafted a valid Will are considered to have died ‘intestate’. In this situation the law lays down a standard set of rules for the distribution of their assets.
It is worth pointing out that dealing with the estate of a person who has died intestate can be very complicated. This is particularly true when the person has children, even grown up ones.
A Will can be prepared in a matter of hours with average costs starting at around £100. The potential savings from this initial outlay could be significant, as administration costs when dealing with your estate would be reduced and also Inheritance Tax planning schemes/arrangements can be put into place. You are strongly advised to consider drafting a Will. Should you need assistance please contact us and we can help you further. |
