A Will is about what happens to your finances, possessions and dependents when you pass away.
It’s vital that you have an up to date Will that takes your personal circumstances into account.
If you pass away without a Will (you die Intestate) and everything is given away according to fixed intestacy laws.
But if you have dependents or children it's even worse.
Children could end up getting nothing. And your children could end up in the care of social services if a parent has not made a Will appointing a guardian. (Tragically this happens sometimes if both parents die in a car accident for example).
(Discover Why One In Five Wills Are Wrong Right Here)
Fixed intestacy laws don't take into account how you wish your money and possessions to be divided out or how to look after your dependents.
It is hard to imagine the unnecessary confusion and distress caused when people die without making a Will and these circumstances are often an ideal breeding-ground for family disputes.
There’s no better way of organizing your Will than getting a Solicitor to write it for you.
Solicitors in Bournemouth are experts for 3 reasons;
- We keep up to date with changes in the law
- We know how to tailor a Will to suit your personal circumstances
- We keep the money away from the tax man (ethically and legally)
Just to let you know I am a member of the Society of Trust and Estate Practitioners (STEPS) and a recognised Inheritance Tax expert.
I know how to write watertight Wills. (I've seen the mistakes others make!)
I can also help you choose your Executors (or act as one of them).
At this point I'd like to mention you don't have to give your heirs all your assets straight away when you pass away. Check out my thoughts in my guide on Wills and Trusts There's a whole lot of information about the whole process of what is known as “Probate” and I will professionally and ethically guide you about what happens when you pass away.
And most importantly, please, please get a decent Will, written by a specialist family solicitor.
Even if Solicitors in Bournemouth don't organise your Will and you go on to get a Will elsewhere, I will still consider it a job well done by me.
Likewise, if you want me to expertly review an existing Will, I am more than happy to do this for you.
Please call me on 0844 874 5377 email for Wills advice
Please find my information on Mirror Wills From Solicitors Bournemouth here
Dedicated to Your Family
Famous People Who Died Without Making A Will - Solicitors In Bournemouth’s Top 5
Pablo Picasso died 1973, aged 91. Assets included artwork, multiple houses, cash, gold and the rest. Dying intestate meant six years of legal fees at a whopping $30 million. Six heirs received his assets.
Abraham Lincoln, the US President may be forgiven as he was assassinated. The first President to die intestate. He was also a lawyer, which just goes to show “do as I say, not necessarily as I do.”
Howard Hughes, a handwritten “Mormon will” turned out to be a forgery and the man who made billions of dollars had his estate divided up between twenty two cousins.
"Sonny" Bono, member of US Congress and the other half of Sonny and Cher, died whilst skiing in 1998. He died without a will and his widow Mary Whitaker, who he married in 1986, became the estate's administrator.
Jimi Hendrix, the singer/songwriter never got round to writing his will. Probably too busy writing some of the greatest music (in my opinion) ever made.
Other famous people to die intestate include; Princess Diana, Barry White, Bob Marley, Jill Dando, Heath Ledger and Natasha Richardson.
To avoid what famous people do, maybe give us a call to get your will sorted out by Solicitors In Bournemouth.
PS Death and taxes – it pays to plan for the inevitable
Can’t Take It with You is the title of a new series on BBC2. Its theme is people dying intestate, (without a Will) and the problems that it causes.
Many people who are basic rate taxpayers amass more assets than the £325,000 Inheritance Tax threshold (double that for married couples and civil partnerships) and end up paying 40% on their estate when they die.
The programme talks about the taboos that surround death and retirement planning and how many families never get to talk about the inevitable, death and taxes, never mind actually planning for it.
With so many middle-aged people relying on their inheritance from their parents to help secure their financial security, it makes sense to plan for this before elderly parents enter a period of mental incapacity or residential care.
People are often put off by confronting the reality of death. But making a Will means that you can make your wishes clear at the same time as reducing Inheritance Tax. It can also reduce the likelihood of any litigation from disgruntled heirs, divorced partners or new partners.
The Can’t Take It with You programme is likely to throw up as many questions as it does answers.
If you want any expert advice on Wills, Estate Planning, Trusts or Inheritance Tax from Solicitors In Bournemouth please get in touch.
