It is easy to put off making your Will because of the difficulty of settling on exactly what you want to do with your assets. This is particularly true if you have a business or a farm. It is often case in family situations where there are children from first and second marriages or assets inherited from one side of the family but not the other and many other complicated issues.
If you have one of these problems or are finding it difficult to make decisions or see your way through, you should go and see an experienced practitioner to discuss things. You will find that you have lots of options of how to structure your Will and some of them can give lots of flexibility of how to deal with your property and how you pass on assets.
If you have worries like:
I have three children and only two of them are interested in the business but I want to treat them all equally – how can I do that?
I want to look after the children from my first marriage and my second marriage and make sure my current spouse is well looked after – how do I do that?
We’ve built up a great family business and we want it to keep running but we haven’t quite worked out what would happen if one of us was ill or died – we can’t do anything until we’ve made those decisions can we?
Those sorts of questions shouldn’t stop you making a Will and, in fact, if you’ve got those sorts of questions you definitely should be making a Will! A good experienced practitioner will be able to offer you options that you might not even know exist.
You can put in place umbrella legal structures which allow for changes in your business or your family over the years and flexibility to deal with things even when circumstances change. A good Will like this is infinitely better than not having a Will in place and having to follow the intestacy rules which often don’t fit with more complicated situations too well. Best of all, instead of feeling that there are no answers to those big, difficult questions, you will have peace of mind that there are executors in place and a legal plan for how to sort things out
If you have a Will and wish to review it or wish to make a Will, come and talk to our experienced and friendly life planning team on 01904 624903 and they will be happy to help.