One of your first considerations in financial planning should be to make a will to ensure your estate goes to the people you want it to.
Many people wrongly believe that their whole estate will go to their spouse/civil partner when they die. However, this only applies if a will has been drawn up and provides for this to happen.
Writing a will means you can specify exactly how you would like your assets to be distributed after your death and allows you to name your executors as well as the guardians for your children. It can also be used to reduce your tax bill.
Even if you have a will, it must be up to date and reflect your wishes, assets and current tax position. Marriage, civil partnership, divorce or dissolution can all have an impact on an existing will.
If a person dies without having made a will, then they are said to have died ‘intestate’. In such cases, a variety of problems can occur.
Join Richard for a 20 minute workshop about the importance of keeping your will up to date and also how changes may impact your estate.