If you happen to own anything that exceeds £5,000 you are expected to have a Will which is used as a guide on how to distribute your estate. The right Will can make sure that your spouse, children or even your grandchildren are taken care of once you have passed away. You can decide to write a Will at any stage in your lifetime, but it is always advisable to use Will writing service Birmingham as soon as you can to be prepared for any unexpected events.
Specifics Of A Will Are Not Always Up To You
When using a professional company to write up your Will they will assist you by offering advice to ensure you make logical decisions practically and financially. However, regardless of the advice given your final decision will always be your own. You can choose to make gifts out of specified items, make donations to charities or leave a set amount of money to specific beneficiaries.
There are many people that are under the impression that if they pass away and they don’t have a Will, their spouse will automatically inherit everything. Even if you happen to be within a civil-partnership or you are married, there are limits in place on what your partner or spouse will be able to inherit when you don’t have a Will or they cannot find your Will. Without a Will, Intestacy rules will apply and this is when the Law makes a decision on who in your family will be able to benefit from your assets and money. There is even a “pecking order” which is set out in the Section 46 of the administration of Estates Act 1925.
Do You Have Property That You Would Like To Leave In Your Will?
Today, our homes are very often the most important financial asset that we own. If your wishes involve passing on the value and benefit of your home to a loved one or family member. Will writing service Birmingham can assist you in writing this into your Will in a method that is reliable, efficient and safe.
Tenants In Common
Today people are living for a lot longer and 1 in 3 women and 1 in 5 men will land up in an old age home. The costs involved in staying in these homes often have a financial impact that is placed on yourself or/and your family, when the government repossesses your property with the potential of disinheriting your family.
Professional Will writing services can assist you in the establishment of specific measures known as Tenants in Common, which can protect the majority of your personal estate within your Will, which will keep your assets and money safe.
Experienced Will writers will often raise concerns that you may have not considered which provides you with the chance to address these in advance. These services can assist you in saving a significant portion on your estate which may have been lost to CareHome fees or Inheritance Tax.