Making a Will is always recommended no matter what your circumstances. The ever changing rules regarding Inheritance Tax, to now include an increased Nil Rate Band where the main dwelling is left to children. The rules governing many reliefs available have been significantly tightened in recent years, this can leave families with sizeable inheritance tax bills where appropriate advice has not been taken.
Equally, leaving a beneficial interest can sometimes result in the beneficiary becoming worse off where their personal circumstances result in changes to their income, this often can be avoided by creating a beneficial trust. Similarly, testators need to be alert to the benefit of life time transfers which can often protect assets for their heirs, even in circumstances where they require nursing home care prior to their demise.
All of this can be confusing and making a Will is no longer just a simple note of who you want to get what. A proper Will should be drafted along with good and knowledgeable legal advice on how best to plan your Estate.
The Covid-19 pandemic has made it more complex to get wills executed but Fox Law is fully accessible to consult in person, by phone or video conference to take instructions on your will and advise you on the best options for your Estate planning.
No matter how straight forward you may think your affairs are you should consider seeking legal advice on having a will drafted and executed; it is often a lot more cost effective than you first thought with a basic will often costing only £75 plus VAT.
Contact Fox Law to arrange an appointment that suits you and be content that your Estate is planned for the future.
The Law as it should be.