Many people put off making a Will for a variety of reasons; either because they do not think it is relevant to them at their stage of life, because they do not feel that it is necessary, or because it may force them to confront difficult issues. However, it is one of the most important exercises we will ever undertake.

A Will puts you in control and enables you to protect the interests of your family and ensure your wishes are carried out after your death. It also helps to avoid any future family disputes.

Making a Will enables you to:

  • Specify who will benefit from your estate in the event of your death – an opportunity to express your wishes.
  •  Appoint executors who will be responsible for the administration of your estate after your death. You also have the opportunity to appoint professional executors to deal any complex areas of your estate.
  • Set up a trust to allow a spouse or partner to live in a property after your death on the basis that the property would then pass to your children after the death of the surviving spouse or partner. In essence, it is an opportunity to safeguard the family home from any change to the survivor’s circumstances such as re-marriage or long term care.
  • Appoint guardians for your infant children.
  • Defer a child’s inheritance past the age of 18 to a later age, such as 21 or 25, and determine who looks after the trust fund for them until then.
  • Set up a trust to administer funds for children or other individuals who are unable to manage their own money. The preparation of a Will allows vulnerable or disabled beneficiaries to be looked after and ensures that any entitlement to means tested benefits remain unaffected.
  • Specify who will look after your pet(s).
  • Nominate a charity to benefit from your estate.
  • During the process of preparing your Will, you have an opportunity to review your estate (assets and liabilities) and highlight any potential Inheritance Tax liability that may arise on your death and allow you to take advantage of available exemptions and reliefs to reduce the liability.

The Surrey Probate Practice can assist you with all of the above and guide you through the process of not only preparing your Will but can review any estate planning opportunities that may be available to you.