Yes, making a Will means talking about death which is never easy or nice, but leaving your loved ones without a Will in place can cause an incredible amount of difficulty at what is an already very challenging time, and it isn’t as expensive to make as one might think.
What is a Will?
A Will is a legal document that allows you to express your wishes formally and securely regarding what happens to your money, possessions and property (assets, collectively known as your ‘estate’) upon your death.It gives you the control and option to:
- state your funeral wishes, such as whether you want a burial or cremation, and what kind of atmosphere you would like to accompany the day including music, food etc
- select who your executors will be – those who will be responsible for winding up your estate
- choose your beneficiaries – family, loved ones, friends and charities who you wish to inherit your assets
- decide on Guardians for young children – those you would trust and want to care for your children
If you die without making a Will (dying intestate) there is no guarantee the above points will be carried out the way you would have wanted. It can also mean it will take much longer to tie things up and in some instances, results in loved ones having to go through lengthy and often costly court proceedings.
Benefits of making a Will
- Peace of mind and security that your wishes, including those you want to benefit from your estate, will be fulfilled
- Can help make provisions on your estate to help mitigate IHT (Inheritance Tax) enabling the majority of your estate to remain with those you wish to profit and not be lost to the tax system
- A well drafted Will can help ring fence your estate from future care home fees
- Allows you to make provisions for unmarried partners
- Simplifies the administration of your estate upon your death, helping to avoid unnecessary upset and strain at an already distressing time
- You can’t put a price on peace of mind
Where there’s a Will
At W&AS Bruce we believe so passionately that everyone should have an up-to-date Will that we have reduced our costs to make it accessible to all.
GET IN TOUCH
Kirkcaldy: 01592 204774
Dunfermline: 01383 738000
Burntisland: 01592 873501
Dundee: 01382 568188
Broxburn: 01506 855777