If someone dies without making a Will, they are said to die intestate. Many people assume, quite wrongly, that all their property will automatically pass to their spouse/partner.  This is not the case and it can be as painful as it sounds for their loved ones who may suffer financial hardship and distress when they least need it.

The benefits of making a Will include: –

• Making the legal process in dealing with their affairs easier and much less painful at a time when their loved ones will need all the help that they can get.
• They can name the beneficiaries (including charities and friends if they so wish) and they will know with certainty who will inherit from their life’s efforts.
• They can appoint guardians of their choice who would look after their children, if necessary, until they reach the age of eighteen.
• They can nominate executors of their choice to deal with their affairs.
• They can distribute their assets in such a way that any Inheritance Tax is mitigated or even removed altogether.
• They can protect the family home against long-term care costs.
• Their family will have clear directions on how to deal with their affairs and may not need to employ (and pay) professionals.
• They can make specific or monetary gifts and express any wishes regarding medical donations or funeral arrangements.

There are many types of Wills, all designed to accommodate a person’s specific needs.

Wills – Single and Mirror

These are simple Wills where a single person or a couple leaves their estate absolutely to the named beneficiaries. In the case of a couple, this is generally to their spouse/partner and then down to their children, if there are any.

Protective Property Trust Wills

By placing the family home in a Will Trust, the risk of the home being sold to pay for long-term care costs should one of them have to go into residential care can be minimised, thus protecting at least half the value of the property for the beneficiaries.  This type of Will is particularly appropriate for elderly parents or relatives and lexapro and protects the family home. It can also be used to protect an inheritance for children from a previous marriage or if a surviving partner were to re-marry.