Lasting Powers of Attorney

If you die without a Will your assets may not be distributed as you would like.

It is approximated that 60% of the UK adult population do not have a Will. We all know we should have one. But not enough people have. Moreover, many Wills are invalid.

A Will is essential for anyone who has children, property or financial investments.

If you want to be sure that your wishes are met. Then you need to have a Will drafted. Also you should ensure it is kept up to date.

A Will is a legal document that states:

  • Who benefits from and can use the assets from your estate;
  • How your property is to be dealt with; and
  • Which of your trusted friends or family is in charge of distributing your estate. Your Executor.

If you do not have a Will then you die intestate. Therefore your estate is distributed according to the rules set by law. These rules do not cater for your specific wishes. So could mean family members may benefit when you would prefer them not to do so. In some circumstances your assets may go to distant relatives you have never met. Or even the Crown. The number of those dying intestate is rising rapidly.

Within your Will, you can also specify:

  • Any gifts, such as jewellery, paintings and alike;
  • Who the trusts people to manage, organise and distribute your estate are;
  • Any charity donations;
  • All non-family beneficiaries;
  • Any trust planning to ensure that your wishes are met even after you die; and
  • Your funeral arrangements and ensure it is paid for.

Your Will can help you:

  • Avoid “sideways disinheritance”, if you have remarried or have children from a previous relationship
  • Potentially reduce your Inheritance Tax (IHT) liability

We make the Will writing process easy

Making a Will can be quick and easy when you receive the right guidance. So you need a specialist to help you. At Farani Taylor Solicitors our estate planning team will discuss your wishes, offer guidance and help you to make a Will that’s right for you and your circumstances.

Contact us or call us on 0207 242 1666 today.

Paul Lockyer

Head of Estate Planning
Biography Paul joined the Farani Taylor team in 2018. He is extremely experienced in regulatory law, having worked for one...
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