Will Planning West Kirby
When you want your loved ones to be properly taken care of in the event of your death, that is not a decision to be taken lightly. Nor is it a decision to be put off for another day – West Kirby Will Planning is important right now. Without a West Kirby IFA to cut through the complicated legalese and explain in simple and straightforward terms just why a will is important, you might well find that the process is daunting and complicated. Without a will, your collectable items (also known as chattels), car, savings and investments and even the home you live in might not end up with the people you expect them to.
If you have assets in excess of £5,000 then you need to write a will. Anything worth more than this amount will be placed into Probate upon your death. This is the system in which your estate is shared among your beneficiaries (the people you choose to pass down to) and without a clear indication of who is to get what, then the process of your executors (the name for those people responsible for acting on the demands made out in your last will and testament) being issued with a “Grant of Probate”. Until the Grant of Probate is issued, your house cannot be sold, and your money cannot be split amongst your family.
West Kirby Will Planning Solutions
In your will, you nominate what amounts or proportions of your estate is to be passed to which individuals. It also acts as a formal nomination for the future legal guardians of your children, if they are under 16, and without a valid will they could be left in the care of social services. A trust can also be set up, allowing for efficient tax planning, the protection of vulnerable young people and ensuring your children’s inheritance is protected even if your partner gets married again after your death. If you pass on without making a will (known as “dying intestate”) then the legal process of intestacy will will managed, and you will have had no say over how your assets are divided up.
Assured Wealth West Kirby Will Planning
For a free appointment for a review, and to make and maintain a valid and up to date will, contact your West Kirby estate planning specialists today for a FREE review with a West Kirby IFA on 0151 601 5922