Like To Avoid Paying Extra Tax?
THEN YOU NEED TO READ THIS
If you don’t have a Will you are writing a blank cheque to the Government.
Are you writing a blank cheque to the Government?
Most people have some apprehension when dealing with the issue of a Will. They see it as a rather melancholy and depressing process- something they would prefer to avoid. However by not making a Will you may ultimately be giving money to the Government; money that you would have preferred to go elsewhere.
At Robert G Sinclair solicitors, Senior Solicitor with more than 35 years in practice, Malachy Hagan points out some of the issues that need to be considered and why you should be contacting Robert G Sinclair & Co solicitors to make a Will.
There is always the possibility that your money could go to the Government if you do not make a Will.
- If you and your wife /partner unfortunately die together in a road traffic accident for example without making a will leaving children your wishes as to who they should be reared by and how their finances are managed may not be realised
- By not making a Will you are putting extra pressure onto remaining family members to administer your estate without your wishes being known which could cause family disputes.
- By making a Will you can make provisions for tax.It should be noted that if you have an estate of over £325,000.00 then that estate may attract inheritance tax – something you may be able to avoid or reduce by proper tax planning and a well drafted Will.
- 90% of Wills are relatively straightforward and can be prepared in a number of hours for a very modest fee.
- No matter what your age if you have dependents and are also in employment then you should consider making a Will. It is important that you consider the nominee of any death in service payment and review if your circumstances change this on divorce
- If you are involved in a Civil Partnership there are issues that need to be considered in relation to your next of kin and planning for money going to your partner. Remember your partner may not be your next of kin and if you die without making a Will your money will not necessarily go to that person