You decide what happens to your estate
First and foremost: If you die without making a Will (which is termed dying intestate) the law will decide what happens to your estate,Gafas ray ban. Unless your circumstances are very straightforward, this could leave your loved ones with a financial nightmare,oakley españa In the era of user empowerment,gafas oakley radar.
You can choose who raises your children
If you have children under 18 its vital to plan what would happen to them,oakley españa, should you die and the best way to guarantee this is to specify guardians in your Will.
To provide for your partner
To be blunt, unlike married couples, your partner could be legally entitled to the grand total of nothing in the event of your death,gafas carrera champion,gafas sol carrera If you want to get a new car but dont hav.
You can minimise the amount of Inheritance Tax (IHT) payable
Whats more,Camisas Ralph Lauren, if you havent made a Will stating what should happen to your estate upon your death,ray ban 2140 wayfarer, it could be subject to Inheritance Tax. IHT is currently payable at a whopping 40%.
Who should write it,bolsos chanel?Use a solicitor
To ensure your Will is accurate and legal, its generally advisable to get a solicitor to draw it up for you,Gafas ray ban. A solicitor can give you legal advice on more complicated matters such as Inheritance Tax, and can ensure there are no errors in the Will. Solicitors fees can vary but typically youre looking to pay between £150 to £200.
Use a Will-writer
If you think solicitors fees are too high,Polo Ralph Lauren, you could consider a Will-writer instead. However, it is important to remember that unlike solicitors, they dont have to be qualified or regulated.
So if you are going to use a Will-writer you need to ensure he/she is a member of a recognised trade body such as the Institute of Professional Willwriters or The Society of Will Writers,gafas carrera españa. Thats because this means they must follow a Code of Practice which covers the training and assessment of Will writers,oakley gafas. Whats more,gafas sol ray ban, theres a complaints procedure which can help you to sort out problems if
Do it yourself ,gafas carrera 2013!
Finally,gafas carrera hombre, you could simply write your Will yourself using a DIY kit from your local stationers. Super cheap DIY Wills can cost as little as £10. For this ultra low price, youll generally be able to select from a range of pre-formatted templates. You simply choose the version that most closely matches your needs. Once you have completed the form, your Will is emailed to you ready to printed off so it can be signed and witnessed.
If you spend a little extra say £30 or so youll get everything that a super cheap will offers alongside a few additional benefits. For example,chanel España, youll probably have access to templates which can be more easily customised,Polo Ralph Lauren. You may also get the opportunity to rewrite your will as often as you need to and free online storage may also be on offer.
The downside to doing it yourself is that these forms can be tricky to fill out and its easy to make mistakes invalidating your Will. So unless youre super confident and your Will is extremely straightforward, DIY Wills are probably best avoided,Lentes ray ban.
Get a Will for freeIts worth noting that in some cases,ray ban españa, its possible to get a Will written for free. October marks Free Wills Month in which a number of solicitors offer their services for charitable donations. Anyone aged 55 or over can have a basic Will drawn up by a solicitor for free. You can find out exactly which areas the campaign will cover here.
Similarly,gafas carrera, depending on your age the Stroke Association (over 60s) and Cancer Research (over 55s), have teamed up with solicitors all over the country to help you write or update your Will for absolutely nothing (IDDT members of any age are also eligible). Of course, although the organisations mentioned above would never ask, you should either give a donation at the time,catalogo gafas ray ban, or ensure you name the charity as a beneficiary in your Will,Polo Ralph Lauren 2013.
Alternatively,bolsos chanel, every November, Will Aid works with solicitors in the UK to run National Make a Will month. Similarly, the scheme allows solicitors up and down the country to donate their time and support for charity which means you dont have to pay to have a Will drawn up,gafas carrera.
That said,ray ban españa, because this is again for charity,gafas sol carrera, its suggested that you pay £75 for a single Will or £110 for a pair of mirror Wills (where a husband and wife or partner make almost identical Wills),gafas sol ray ban.
What to includeIts worth thinking about exactly what you want included in your Will. Work out how much money,bolsos chanel 2.55, property and other possessions you have dont forget to include savings, pensions, insurance policies and shares.
Consider who you want to benefit from your Will and make a list of all the people (your beneficiaries) to whom you want to leave your money or possessions,catalogo gafas ray ban. When doing this, be specific as possible and dont use nicknames,Lentes ray ban.
Also consider whether you want to leave any money to charity, and if you have kids under 18 (16 in Scotland),chanel outlet, think about who is going to look after them should you die,carrera.
Final pointsFor a Will to be valid, it must be:
· Made by a person who is aged 18 or over (12 in Scotland)
· Made voluntarily
· Made by a person of sound mind
· In writing
· Signed by the person making the Will in the presence of two witnesses
· Signed by the two witnesses in the presence of the person making the Will,Ralph Lauren España. A witness cannot benefit from the Will.
Its also important to review your Will regularly and make amendments where necessary. If your circumstances change significantly such as you get married, divorced or separated,oakley botas, have children,Ralph Lauren España, or buy a house its vital that you update your Will. An existing Will automatically becomes invalid if you marry,chanel España.
You should also make sure you keep your Will in a safe place, such as at home, at a bank,gafas sol carrera, or with your solicitor,oakley gafas. You can find further tips on Will-writing and other important information about dying and bereavement on the Dying Matters website,gafas carrera españa.
Finally, bear in mind that Scottish law on inheritance differs from English law,oakley españa. You can check out the Citizens Advice Bureau in Scotland for further information,gafas ray ban hombre.
comments kevin@kpmfinancialserivces.co.uk