I’m ok, I’ve got a Will14th May 2019 2:10 pm Comments Off on I’m ok, I’ve got a Will
Congratulations, that puts you ahead of most people, but when did you last look at it, what has changed since you made it, do you know where it is, does anyone else, and who wrote it for you?
A Will should be a work in progress – whenever there is a significant change in your personal, family or financial circumstances, or in the relevant law (and, in any event, about every 3 years to be on the safe side), you should check your Will against reality.
Changes in personal or family circumstances include marriage, divorce, separation, having children or grandchildren, or more of either, or one with special needs, losing touch or falling out with an executor, guardian, trustee or beneficiary, the death of any of them, development of a child’s personality or breakdown of a marriage.
Changes in financial circumstances include acquiring a pension fund, or company death-in-service benefit, or life assurance, or your own business. All of these give rise to pitfalls and opportunities that you need to know about, and which should lead you to re-think your Will.
The relevant law changes often. Politicians love to tinker with Inheritance Tax. Do you know about Resident Nil-Rate Band or the changes to tax on multiple pilot trusts? Does your Will reflect these?
Your Will must be secure and private but your executors must be able to find it easily after your death. Not easy. We can help.
Who wrote the Will really matters. If it wasn’t a specialist solicitor, why are you gambling with your family’s future?
These days the law is so complex that almost all solicitors focus on narrow areas of it and very few specialise in this field. We do.
Michael Cutler has been a solicitor for over 35 years and was admitted in 1995 to membership of the Society of Trust and Estate Practitioners (‘STEP’), the international, cross-professional specialist body for the most skilled and experienced in this field.
If you have any doubt about your Will, let us put your mind at rest. Come and talk to us about making or updating your Will.
This post was written by Colemans Solicitors LLP