In today’s day and age, every minute is taken up with some sort of task – especially for a young mother!
In between diaper changes, cleaning up squashed strawberries from the rug or school runs, it’s easy to lose touch with the bigger picture.
It is routine and habit that keeps us focused on tomorrow’s dinner menu and what we need for next week’s birthday party, making it easy to forget that anything could happen before those events take place.
Will-making is brushed under the carpet until obvious signs of aging begin to show. We should remember that the arrival of death is not something you can plan for and can, unfortunately, strike at any time.
Making a Will is so crucial as it ensures that your belongings are going to the people you always assumed they would – those you care for.
Without a Will, the law decides who gets what. Here are some reasons why making a Will may be essential for you:
1. It reduces friction within the family
Unfortunately allocating assets often ruins relationships between relatives. Verbal promises that are made before death that are not able to be proved can make some people feel like they are being mistreated and cheated out of their fair share.
A legally binding Will gives the testator the guarantee that their assets are going to those they wished would receive them, without the possibility of anyone else claiming them after their death.
2. You can save on Inheritance Tax
Inheritance tax is a 40% tax payable (IHB) on estates worth over a certain amount. Money left to your spouse or a friend whose home is in the UK is not taxed.
Allocating this money efficiently in a Will prevents you from paying more tax than you may need to.
3. It allows you to leave things to those who aren’t your family
Pets, friends and maybe even neighbors. These are all loved ones who you may want to include when your belongings are being distributed after your death. Mentioning them in your Will protects your last wishes.
4. Funeral planning
Making a Will also allows you to make your wishes known to your family or friend. It can be a confusing time and conflicting opinions are not ideal for those in mourning.
Making an eWillTM is easy, fast and legally binding. It can be done at any time from anywhere. Make an eWillTM now to cross one more important thing off your to-do list! Peace of mind is just a few clicks away.