We all know that we should make a Will, but how many of us put it off, thinking (hoping) we have ‘plenty of time to sort it out’? Perhaps we’re put off by the potential cost or having to deal with solicitors? Perhaps we just don’t know where to start!
You may be aware of the national ‘make a will months’, which generally happen in May and October each year, where donations are made to charity for each will made. They are brilliant for raising the necessity of making a will BUT tie charities into specific solicitors.
We like to keep things more local at SCCCC, so we have teamed up with Sheffield based Egg and Nest Estate Planning to bring you an exclusive offer which will run in May 2021
£150 for a single Will or £250 for joint or mirror Will AND they will donate 50% from their fee to SCCCC.
These very special prices apply to ‘simple’ wills only, if the Egg and Nest adviser feels your estate and will requirements fall outside of these parameters, they will let you know immediately and provide an accurate cost before proceeding.
The information below is courtesy of Haworth Ward-Drummond of Egg and Nest and helps to explain the importance of a properly written Last Will and Testament.
A Last Will and Testament is a very important legal document – probably the most important you will ever sign. It passes on a lifetime’s hard work to those you love and care for. Given its importance, it’s vital you get it right.
A Will in its most simple form is an important basic level of planning that allows you to:
- Distribute your wealth (however modest) to your chosen beneficiaries on your death
- Choose Executors to be responsible for administering your estate
- Nominate guardians to look after your children
- Defer the age at which your beneficiaries inherit if necessary
- Leave gifts of items or money to friends, family, or charity
- Make provisions for your pet(s
In later life, the threats to the inheritance you plan to leave your loved ones grows rapidly. Sometimes people don’t discover these threats until it is too late. A well written Last Will and Testament complimented by the appropriate use of trusts can help protect your home and savings after you have gone from threats such as:
- Long Term Care
- The marriage of your spouse or partner after your death which could result in your chosen beneficiaries inheriting nothing
- Inheritance Tax
- Divorce and bankruptcy of your chosen beneficiaries
There’s plenty to think about when writing your Will and it’s important to take professional advice from a specialist. An estimated 27 million adults in England and Wales don’t have a Will and findings suggest that the vast majority of couples who do have a valid Will have the most basic of Wills – a ‘Joint Will’ or ‘Mirror Will’, which leaves everything to a spouse or partner, and then to children (or other chosen beneficiaries). Whilst suitable for some as a basic level of planning, there are some hidden risks with this form of will, which can have a dramatic impact on those you will one day leave behind.
What to do next
- Simply contact Ericka Hill on 0114 2505293 to express your interest.
- An adviser will contact you directly to arrange a suitable date and time to visit you.
- Sit back & enjoy a cuppa and a chat with no obligation to purchase.