None of us want to think about life after we've gone. The trouble is, by ignoring it we make it harder for the people we leave behind. If you have property, assets and investments, are married or cohabiting, and have children or other financial dependents, then it is essential you start thinking about making your Will. It’s important you use an experienced professional who knows the legalities, such as legacies, inheritance tax, and Lasting Power of Attorney.
That’s why we’ve partnered with The Will Writing Company, so together we can ensure our customers get the best possible service. Why not book an appointment today to discuss your needs?
What to expect:
- The initial meeting can either be in a branch, at your home or over the phone
- Your consultant will discuss your particular circumstances and wishes and explain what’s included
- You will have to have at least two face-to-face meetings to make absolutely sure you understand everything and that the Will is signed appropriately.
What having a Will means
Because your wishes are made clear, it makes it easier for your family to deal with your estate when you are no longer around.
A Will allows you to:
- Appoint someone you trust to act as executor and ensure your wishes are carried out
- Set out your funeral arrangements
- Appoint guardians for your dependents or children under 18
- Decide who receives your personal possessions and assets
- Make sure the government doesn’t decide what happens to your assets, quite possibly against your wishes and you minimise any Inheritance Tax
- Make gifts, e.g. to a charity or friends who would not benefit otherwise
- Helps preserve the family’s legacy.
What does not having a Will mean?
Many of us think about making a Will, yet only a small percentage of the population has actually done so. Why? Because we think it’s something we’ll do when we’re older or that it’s too morbid to think about.
But writing a Will puts you in charge, otherwise there’s a law from 1925 that decides who inherits your possessions if you die without a Will, and even though this was updated in 2014, can do the opposite to what your wishes may be.
Click image to download the rules
What happens in an estate planning appointment
What happens to your money and other assets (your ‘estate’) after you die could be very important for your family. So there’s potentially a lot to consider when writing a Will. One of The Will Writing Company’s qualified Estate Planning Consultants will sit down with you either at home or in your local Nottingham Building Society branch. They’ll be professional and sensitive, and will talk through your situation and wishes. This initial consultation is free, after that you can decide whether or not to use their help.
Things to consider:
- Who would look after your children if they were under 18?
- How can the costs associated with the administration of your estate be reduced?
- If your wife or husband remarries after your death, would your children still inherit what you want them to?
- Is your estate likely to be affected by Inheritance Tax – and what can you do about it?
- Who will make decisions for you if you become incapable of doing so yourself through illness or an accident?
All these things can be tackled with the help of an Estate Planning Consultant. With some careful planning now, you can be sure that your belongings will be protected so that it passes on to your family and loved ones.
Should you consider a Lasting Power of Attorney?
It’s also important to consider drawing up a Lasting Power of Attorney. Although Wills set down your wishes after death, what happens if you’re unable to make important decisions concerning your well-being and finances during your lifetime? A Lasting Power of Attorney (LPA) grants a person the ability to choose one or more people, who they wish to deal with their affairs, if they become unable to do so through an accident or illness such as a stroke or dementia.
Bringing an existing Will up-to-date
If it’s been a while since you wrote a Will, chances are things have changed in your life. The Will Writing Company can review your Will for free, so you can be sure that if anything needs updating, it will be.
It’s important to update your Will regularly or it could turn out to have things in it that don’t make sense any more. It is likely that your circumstances have changed and you might be surprised if you take a look at what you wrote a few years ago.
Things to consider:
- The value of your estate may have changed
- You may have had children or grandchildren
- You may now have a partner
- You may have got married, or divorced
- You may want to give something to charity
- A review with The Will Writing Company costs nothing and we recommend it if you haven’t looked at your Will for at least five years.
What to do next
You’re never too young to start thinking about writing a Will and planning your estate. We can offer you a choice of appointment times to suit you and we can talk to you individually, or with your family if you prefer.
Initial appointments take around an hour and you are under no obligation. All our services are fixed price – you won’t pay per appointment or per letter – and consultations, including reviewing your existing arrangements, are free.
About The Will Writing Company
The Will Writing Company is one of the UK’s leading firms that specialise in estate planning. They’ve been focusing on it since they were founded in 1990. The Will Writing Company is authorised and regulated by the Solicitors Regulation Authority (SRA) in England and Wales as a licensed body. Furthermore, all of their Estate Planning Consultants are members of the Institute of Professional Willwriters (IPW) and comply with a code of practice which is approved by the Chartered Trading Standards Institute.