Dying without a will could leave your spouse or partner in the position of having to sell your family home to pay for Inheritance Tax or other beneficiaries legally entitled to your estate. The Rules of Intestacy will prevail, and the distribution of your assets will be decided by legal guidelines devised in the 1920’s when family structures were very different. A valid will avoids this and with considered planning can maximise the benefits that your loved ones will receive, minimise the Inheritance Tax owed, prevent dilution of your assets and preserve wealth through the generations.
You should consider professional advice for your will if:
- you want to protect family and loved ones after your death
- you want to determine what happens to your assets when you die
- you want to ensure that your wishes are robustly reflected so they cannot be challenged particularly those with more diverse family structures
- you want to take advantage of opportunities to minimise Inheritance Tax