Why is it important to make a will?
As part of Remember a Charity in your Will week, our supporters, Taylors Legal, explain why it is so important to make a will, and how you can set one up, while supporting a Hospice at the same time.
Why should I make a will?
There are a number of reasons why it is important to make a Will. We have put together 4 of the reasons we think are the most important things you should consider when making a will.
1. Without a Will, your estate, which is everything that you own when you pass away, will be distributed in a standard way, defined by the Intestacy Rules. This is not always the way you might want your estate to be distributed, so if your preferences are different from what the rules state, you should consider making a will.
2. A Will can also help reduce the amount of Inheritance Tax that might be payable on the estate, since you can consider appropriate tax planning measures and make use of the spousal exemption. Without such measures, your loved ones may lose out because your estate may pay more Inheritance Tax.
3. If you wish to prevent someone inheriting from your estate this can only be done through a Will. This might be because they have become incapacitated and are unable to manage an inheritance. By making a will, you can ensure any inheritance you wish for them to receive is held on trust for their benefit instead.
4. Finally, if you wish to benefit a charity that is close to your heart, like the Hospice(!), this can also only be done through a Will.
How can I make a will?
When considering who to appoint to manage the administration of your estate, this can be a professional, such as Taylors Legal, which can give you the peace of mind that those left behind will have a skilled professional dealing with all the legal aspects of the estate to take the burden away from them.
It is important to be aware that a person must have legal capacity in order to be able to make a Will so it is crucial to have your Will prepared whilst you are able to do so, especially since conditions like dementia and Alzheimer's are becoming more common and affect a person's capacity.
At Taylors Legal, we pride ourselves on assisting our clients through the process of Will making and if required, dealing with a loved one's estate, with compassion and sensitivity.
Make a will and benefit Saint Francis Hospice
We are supporting Saint Francis Hospice in their Make a Will Campaign, meaning we offer our will writing services for free in return for a suggested minimum donation of £200 to the Hospice.
Click here for more information about our Make a will scheme, or call Nicola Daniel at Taylors Legal directly on 0208 501 4959.
Leave a gift to Saint Francis Hospice in your will
Consider leaving a gift to Saint Francis Hospice in your will to help make sure that we can continue caring for people with life limiting illnesses locally.
For more information about how a gift in your will can benefit the Hospice, and how you can help, contact Susan Spencer on 01708 771403 or email susanspencer@sfh.org.uk.
