Hilary and Charlotte explained how you can put a Will in place so that your loved ones are provided for. If you die without a valid Will, a prescribed set of rules applies to determine who will inherit your estate and it is not necessarily the case that everything will automatically pass to your spouse.
Making a Will can also help you to save Inheritance Tax, particularly for married couples.
If you have children from a previous marriage, or you have stepchildren you would like to benefit from your estate, you can make provision for them in your Will and this may avoid challenges and disputes after your death.
You can also use your Will to leave a legacy to any charities that you have supported during your lifetime. If you leave 10% or more of your estate to charity, your estate may qualify for a reduced rate of Inheritance Tax.
Barrett and Co are very excited to be part of the Will Aid scheme which has been running this month, please read the newsletter next month to read all about the success of our Will Aid campaign.