Why do I need to Make a Will?
It cannot be stressed too highly, just how important it is to make a will
If a you die without leaving a will, the courts will write one for you and will demand that all of your assets are distributed in accordance with strict rules. All too often that can mean that your assets go to people that your would not have chosen.
Homemade DIY Wills
Many People try to save money by writing their own Will. This is often a false economy, as probate lawyers say they earn more money from sorting out incorrectly drafted homemade Wills than they do from the modest fee they charge for a professionally drafted Will. if you make a mistake in your Will, your beneficiaries pay the price. If an uninsured professional makes a mistake, their professional indemnity insurance will cover any loss to your estate
It is important to take a whole number of different factors into consideration when deciding how to draft your Will. These include the laws relating to taxation, property law, succession, family law and social care. It takes years of study and many hours of ongoing training each year to keep up to date in these areas. Can you afford to take the risk with the financial security of your family
Why Making a Will is Sometimes Not Enough
Having stressed how important it is to make a Will, we must also recognise that a Will has many limitations. We are often asked to draft mirrors Wills that leave ‘everything to each other, and then to the children’. Drafting simple mirror Wills fails to provide any flexibility for a change or circumstances in the future and can lead to a significant loss of assets.
Your estate could end up in the hands of someone other than your chosen beneficiaries. We see millions of pounds lost each year because of a client’s failure to plan effectively.
To Find Our More Visit the Family Asset Protection Website