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Dear
Friends,
"Where there's a Will, there's a way" - but where
there isn't, the Exchequer get their hands on more !
I have been asked to bring this to your attention, so here
goes:
Why should I make a Will?
Making a will is the
only way to be absolutely certain that your money and your
belongings go to the people and causes you care about.
As well as helping your family and friends, you're giving
yourself peace of mind when you make a Will. It might
also avoid or reduce tax payable on your estate. This
makes it a very positive and worthwhile thing to do.
And if you support the church (or other causes) in life, why
not in death too ?
When do I need to make
a Will?
The probable answer is
now. You may well want to discuss it further with your
family. Provided you're over 18, you can make or change your
Will as often as you like. In this way you don't have
to worry about having an out-of-date Will, and you can change
it as your circumstances change. One example of when
you'll need to make a new Will is if you marry, or remarry,
as your marriage will automatically invalidate your old Will.
So what's stopping you?
The majority of people
die without saying who they want their money and possessions
to go to, leaving anxieties and difficulties behind for the
people they care about. Please don't let that happen
to you and those you love. You may feel you do not have
much money, but if you own your home, that in itself is a
valuable asset. Even if you don't own your home, you
may still have some jewellery, some good furniture and maybe
some savings. Possibly you hold life assurance policies.
Who will they go to ?
Don't assume everything
will automatically go to your partner. In
fact, your partner may not get anything if you're not married.
Even if you are married, it's the law that decides who gets
what if you don't leave a Will. Children or distant
relatives may be entitled to all or a part of your estate,
so your surviving partner may end up with much less than you
would wish. To prevent this from happening you need
to make a Will. Then you can say exactly who you want
your money and possessions to go to.
Do you think it's complicated
and expensive to make a Will? It's
actually quite a quick and simple process when you go through
it with a solicitor. Making a Will might not cost as
much as you think. Anyway, wouldn't you prefer to spend
a little more money now, rather than leaving your dependants
to pay legal bills after your death ?
Do you think it'll be
difficult to change your Will once you've made it?
On the contrary, it's
very easy, and it is worthwhile reviewing your Will every
few years once you've made it. What about including
some good causes (like the church!) too - and checking to
see what can be done to reduce inheritance tax ? You
know it makes sense !
William Lang.
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