Why Make a Will?

If a Will is NOT made when someone dies, their money, property and other belongings (Estate) will pass under the intestacy laws. These laws state which of the deceased’s nearest blood relatives should inherit and in what quantities. If there are no living relatives, the Crown may take the Estate

Straight away you can see the importance of making a Will. If the deceased had no living relatives, the Crown could benefit from his or her success. The deceased may have had relatives but not wanted the person chosen by law to inherit his or her estates or not wanted any of his or her relatives to benefit. By making a professional Will, the deceased could have ensured who he wanted to benefit from his Estates.

There are lots of reasons why you should make a Will, whether or not you have many possessions or much money; many of them are reasons that you may have not typically considered:

If you die without a will, there are certain rules which dictate how the money, property or possessions should be allocated. This may not be the way that you would have wished your money and possessions to be distributed

Unmarried partners and partners who have not registered a civil partnership cannot inherit from each other unless there is a will, so the death of one partner may create serious financial problems for the remaining partner.

If you have children, you will need to make a will so that arrangements for your children can be made if either one or both parents die.

It’s also important to look into making a Will for tax reasons, as it may be possible to reduce the amount of tax payable on the inheritance, if advice is taken in advance and a will is made.

If your circumstances have changed, it is important that you make a will to ensure that your money and possessions are distributed according to your wishes. For example, if you have separated and your ex-partner now lives with someone else, you may want to change your will. If you are married or enter into a registered civil partnership, this will make any previous will you have made invalid.

Over 300 million adults in the UK have not made a will. To join them you don’t have to do anything. To safeguard your loved ones, you only have to contact Orchard who will arrange your Will for you.

If you have no living relatives (the Crown will take all of the estate).

If you have dependants, this could be children under 18 or disabled or elderly relatives. You should make a Will to appoint guardians or set up trust funds for them.

If the total of your estate/assets exceeds the Nil Rate Band (currently £300,000) and you wish to reduce your Inheritance Tax bill.

To make the burden of your death easier on loved ones.

Research has shown that most people who have yet to make a Will, have either not found the time, or find it difficult to fit in around work and family commitments. Given the opportunity of a “Home Visit” the majority of these people would and DO make a will.

At Orchard our policy of having a fixed cost, regardless of whether the appointment is a “Home Visit” or an office appointment and however complicated the Wills are, is very popular as this allows people to relax and ask as many questions as they need, taking time to discuss the important decisions necessary for the drafting of their Wills. If you are legally married or in a civil partnership and wish your spouse or civil partner to inherit all of your estate, or if you are not married but still wish your partner to inherit some or all of your estate contact us for more information.

For more advice on Wills and Trusts please contact us

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