Comprehensive and Expert Help to keep it in the family.
We strive to help you come to grips with the things that will cost your family a lot of money, and mental pain, if just left to chance. You’ll go a long way towards your personal and family’s success by making your bespoke Will. The problem with leaving it until ‘later’, is; that you never know when it will be too late. "It's never too early, just often too late."
Why Should I Make a Will?
There are many reasons why you should make your Will, but principally; because your family will benefit from it many times over, than being without one.
Put yourself into your family’s shoes for a moment. They are dealing with your death. Would you rather have a relatively easy time, or a difficult one?
Your Will is a set of written instructions for your family, in how to close down your estate, after you have died. It will benefit them many, many times over, to have your Will at the ready. Why?, because it will prevent them from having to pay a lot 'extra'; to sort out your affairs according to law, without one.
It’s unlikely that you would go on holiday, or take a job interview, wholly unprepared, and expect a good result. Non? Your family succession preparations should follow the same idea. Be prepared.
Five Reasons to make your Will:
These are some of the common questions and answers that pop up when we discuss Wills with our clients;
So, Why Make a Will?
Because your family will benefit from it many times over, than being without one.
There is no such beast as a standard family. Each family is unique. So, why should a standard ‘off-the-shelf’ Will fit you?
Just remember; if you don’t make your Will, the law must determine how your wealth is shared out when you die. Neither you, nor your family, will have any say in the matter, about who gets what and when. And the results may not be as you had assumed.
The Edmunds & Eve family succession service team has the expertise to advise and tailor the most appropriate Will Plan for you. It can be as flexible and adaptable with future change as you want. Which is the complete opposite of the simple Will.
Wishes matter. Make a wish!
You make many wishes everyday. At your birthday party. That your wife will like the flowers you got her for the weekend. Will your train arrive on time? You make many wishes everyday… Except, according to the Office for National Statistics (ONS), most people (nearly 7 in 10), will fail to make a wish for their family. That is, to let them know what you want to be done with your real and personal estate, should you die to soon. In not doing so, they leave their loved ones with an expensive legal mess to clean-up. Often, it will happen due to a road traffic accident, or other accident, or through an illness, and; much sooner than their age profile predicted.
What happens if I die without a Will?
When a person dies without having made a Will before their death, the Government Authorities must take over his estate and affairs because no-one has been given the authority to deal with it. The Government Authorities must follow what is called the Law or Rules of Intestacy. This means that whatever you may have wished without Willing it, before your death; is not counted. Your estate and wealth must be distributed according to a statute - ‘which is only a rough fit with modern society’. No questions are asked. No options are given. And; the result possibly at odds with what you would have wanted. It is cast in stone. Even if the end-result is patently unfair.
An Unfair Result
Let's say, for example; that you were married 23-years ago, and the marriage foundered. And you both aborted the marriage without a legal contract of separation or divorce. For the past 20-years, you have been happily cohabiting with another and have raised a happy family. You have treated the children of your life-partner's previous relationship as your own. And, you have built up a significant wealth portfolio with your partner of these past 20-years.
You died yesterday! No Will. Guess what happens to all of your wealth?
Your wife gets it. Your life-partner of 20-years and her/your children get nothing. That is the law. There are plenty of other examples of similar unfairness because you died without a valid and appropriate Will.
The benefits of making your Will
Through your Will, you decide how your assets are managed and shared out to your family, to your friends and favourite charities. You can make certain that your partner is provided for, if you are not married or not in a civil partnership. Under the law, your cohabiting partner will not inherit anything automatically from you.
- If you are divorced or if your civil partnership has been dissolved, you can make gifts and legacies to your ‘ex’ and the stepchildren.
- In your Will, you appoint a trusted person(s) to be the executor of your Will. He takes responsibility for managing and distributing your estate according to the directions in your Will.
- When your wealth is liable for inheritance tax, then you can model things to pay no more tax than you need to. HMRC set the conditions for tax relief. They do not promote how to get it. It is for you to find. Our family succession service team has the expertise to validate whether your estate would be liable to pay tax or not and advise you on the most tax-efficient way to gift your assets if it does.
Our professional Will-writing service
Whether it’s your first Will, or you want to revise your current Will, our professional Will and family succession service will help you get it right.
Our goal is to ensure that the result matches your wishes and needs and that your experience is beyond your expectations. What we do for our clients is completely different and beyond the knowledge of the average High Street provider, because our aim is to save you money.
Our Family Succession team
Our consultants are always up to date and ready with experience and skills to provide you with expert advice in your Will and family succession needs. It is fully tailored to your wishes and circumstances. At the centre of the service is your consultant, whose role is to engage with you to realise your wishes and needs and to understand you completely.
As someone who knows you, and understands your family objectives, your consultant is well-placed to advise you in all matters regarding family succession. He will be able to tell you all about our services and explain how we work, and how we differ from everyone else, to achieve your goals.
You will discuss your wishes with him, and he will identify the best way to ensure these are fulfilled. Our service helps you to make these important decisions and to understand the technical matters that need to be applied to realise them, including how to choose your representatives, and the effects that your decision may have on other factors of your family and wish.
While we are taking instructions for your Will, we will guide you through the inheritance planning and family succession methods that apply for you, so that your assets pass on to your loved ones or other beneficiaries, in the most effective and tax-efficient way.
Why choose our Will and Family Succession service?
What we do for our client is completely different and beyond the knowledge of the average High Street provider. Our remit is to save clients’ money and preserve wealth and fortune in the family, for the family. And therefore, we approach things from a holistic perspective, because everything of family and finance is affected.
Our family succession service team has the expertise to advise and tailor the most appropriate Will Plan for you, which is flexible and adaptable with future change.
Equally, administering an estate can be a lot more complex than many people realise, but our expert team has the skills and experience to perform the task effectively and efficiently with your representative. Our estate administration team make sure that your chosen beneficiaries receive what is due to them from your estate promptly and impartially.