Making you will

There are a variety of very practical reasons to make a will but the most important reason is your own peace of mind.
Dealing with someone’s affairs after their death is often difficult for those left behind no matter how modest the estate. Having a will leaves your affairs in order and means those who are left behind will have no doubts as to your wishes with less scope for dispute or misunderstanding.

Inheritance Tax

With property prices having risen in recent years even people with relatively modest means may now be liable for inheritance tax and nobody wants to pay more tax than they need. A well-prepared will is the major way to minimise potential tax liability.(Sub-heading)Why everyone should make a will
- It arranges for the disposal of your property and belongings according to your wishes and not according to government legislation

- It deals with the disposal of cherished items

- It minimises tax liability

- It can incorporate your wishes as to your preferred funeral arrangements

- It appoints suitable people (the executors) to carry out your wishes

- It can appoint guardians for children

- It reduces the likelihood of disputes and difficulties for those left behind

- It can provide much needed funding to charity (38% of public donations come from legacy donations via wills)

How your Will can help CALL

The work of CALL relies heavily on charitable donations to continue providing emotional support and practical home-based help to people living with cancer.
A charitable donation to CALL made through your will is simple to arrange. Also, donations made to charity either in your lifetime or by will reduce your overall estate value, helping to minimise tax liability.
Important points to keep in mind.

Seek Professional Advice

D.I.Y wills or relatively cheap will writing services can create more problems than they solve. We strongly recommend that you consult a solicitor to ensure a proper, valid will is drawn up which accurately reflects your wishes and considers how best to achieve these in a tax effective manner. See below for special offer discount from a professional solicitor.

Making Changes

Having made a will you may want to make changes in order to add a gift or alter the amount of a gift. Don’t be put off making a change because you think it might be complicated or expensive. In these circumstances it is not always necessary to rewrite the whole will: you simply add a Codicil but it must be witnessed in the same way as the original document.

Keep Your Will Up To Date

Personal circumstances change over the years; the value of your property may increase, you may have children or grand children to provide for, you may divorce or be bereaved.

Whatever the changes, your will should reflect your current situation and commitments. It is recommended that your will is reviewed at least once every five years.

Types of Gift

Pecuniary - a specific amount of money (which may need updating to allow for inflation)

Specific - a specific gift of land, items of property, value of shares or insurance policies

Residuary - after you have provided for family and friends, this gift leaves what is left of your estate to charity.

Please consider including a donation for CALL in your will. Even a small amount can make a big difference.

If you require professional advice contact Solicitors Hague Lambert on: 0161 834 6066
www.hague-lambert.co.uk