For those left behind, the consequences can be serious. A common
misconception a married couple has is that everything they own will
pass automatically to their spouse, but without a will this is not
always the case. In addition, with the sharp rise in house prices,
many people who wouldn’t class themselves as rich have been taken
by surprise at the extent to which inheritance tax affects them.
Why should I draft a Will?
By writing a will, you could potentially save many thousands of
pounds in inheritance tax. You can also:
- Choose who benefits from your estate when you die. If you don’t
make your wishes clear then your assets are distributed according
to the intestacy rules in England and Wales, which could mean some
of those closest to you being left with nothing. For example, an
unmarried partner has no automatic entitlement to inherit your
estate and can only do so if you make a will.
- Support the charitable causes that you care about most, by
making a gift. This can reduce the inheritance tax paid on your
estate.
- Make your preferences clear about your funeral
arrangements.
Advice on making a will
There are many pitfalls when making a will, so take care if you
decide to write a will without the assistance of a
trained solicitor. For example, did you know that if you
marry, your existing will becomes invalid? Or that the provisions
of your will are affected if you divorce? Sometimes a badly written
homemade will is worse than having no will at all, since mistakes
can lead to years of expensive litigation.
Here at Hodge Jones & Allen, we have an efficient and
sensitive team of will writers and you will know that you are
getting advice you can trust. Our friendly and professional
experts are available to help you now and in the future should you
need to make any changes as your life develops. So come and talk to
us, particularly if you are on the verge of a major life change
such as buying a house, getting married, divorced or having children.
How do I start making a Will?
If you would like some legal advice about
making a will, get started by downloading our ‘Making a Will
pre-interview questionnaire’. Once you have completed it,
contact us to arrange an appointment. You can send it to
us in advance to: Private Client Dept, Hodge Jones &
Allen LLP, 180 North Gower Street, London, NW1 2NB, or you
can email it to sboulter@hja.net.