More than half the population doesn’t have a Will in place. It’s easy to do and will ensure your family is looked after should the worse happen.
If you’re not convinced, below are four good reasons why you really should write a Will.
1. Avoid arguments
Disputes often arise after the death of a loved one. A Will is a clear and binding expression of your wishes. When you write your Will, your solicitor will keep detailed notes of all discussions surrounding your Wills which can be used as evidence in Court as to the reasons behind your choices.
2. Protect your Estate for your children and grandchildren
Whether you are concerned about your spouse remarrying in the future or your estate being depleted by care fees, the appropriate use of Trusts in your Wills can help protect as much of your estate as possible for your children and grandchildren.
3. Avoid intestacy
It is a common misconception that if a married person passes away their entire estate will inevitably pass to the surviving spouse. The only way to ensure your estate passes in accordance with your wishes is to write a Will.
4. Gifts to charity
You can include gifts to charities like Thames Hospice in your Will. All gifts to charity are Inheritance Tax-exempt and, if you leave enough of your estate to charity, the remainder of your estate could benefit from a reduced rate of Inheritance Tax (36% instead of 40%). At Thames Hospice, gifts in Wills fund one in four beds on our Inpatient Unit. Find out more about leaving a gift in your Will for Thames Hospice.