Thinking about what might happen after you die isn’t easy. It’s hard to imagine the world simply continuing. Writing a will is one of those tasks that many of us tend to put off for “another time” or decide to “sort it later”. But understanding the importance of a will can make a real difference to you and your loved ones.
Why should you make a will?
Many people underestimate the importance of a will until it’s too late.
A will isn’t just a legal document, it’s a way to ensure that your estate is handled according to your wishes and that those closest to you are protected during an already difficult time.
You can cover important issues such as:
- Appointing a guardian for any children or dependants
- Deciding how to leave your property
- Taking steps to protect unmarried partners or stepchildren
- Reducing the amount of Inheritance Tax (IHT) applied to your estate.
Ultimately, making a will will spare your loved ones from having to deal with working out how to manage your affairs while they’re still navigating their grief.
Why do you need a Power of Attorney?
While many people focus on just writing a will, a Lasting Power of Attorney (LPA) is another important consideration in your later-life planning. While we all hope to maintain good physical and mental health, you just don’t know what’s around the corner.
An LPA means that you know people you trust will be making decisions about key areas of your life, such as your healthcare and finances.
By you understanding the importance of a will and a lasting power of attorney, it allows you to take control of your future.
Don’t wait until ‘later’ and start planning today to ensure your family, assets and future are taken care of.
Download your free guide to find out more information surrounding wills and LPAS and why they are key to protecting your family and future.
Alternatively, if you want to read more information about Estate Planning, click here.
If you have any questions or would like to discuss how we could work together to write your will, please get in touch.
Please note: This guide is for general information only and does not constitute advice. The information is aimed at retail clients only.
All information is correct at the time of writing and is subject to change in the future.
The Financial Conduct Authority does not regulate estate planning, tax planning, Lasting Powers of Attorney, or will writing.
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