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Thinking about making a will? Find out why it's important here, plus news on free webinar on this issue

Local News by Guest 17th Feb 2021  
George Persson TEP, Partner at local law firm Thatcher + Hallam
George Persson TEP, Partner at local law firm Thatcher + Hallam

Planning for later life, including making a will, is something we should all do, no matter our circumstances or our age but it is one of those jobs that can often fall to the bottom of our 'to do lists'. Yet a will is an important document that enables you to decide what happens to your money, property and possessions after your death.

What happens if we die without a will? Or what if we've written our own will, without using a solicitor to oversee the process? A number of high profile cases in the national press recently have highlighted that these scenarios can lead to wills being contested, to family disagreements and to lengthy legal proceedings.

George Persson, a partner at local law firm, Thatcher + Hallam and a key member of their Wills, Probate and Tax Planning Team explains.

"Dying without a will is known as intestacy. If you die without a will then your property is shared out according to certain rules. This also applies if you have written a will that is not legally valid. What you hoped or presumed might happen to your money and property isn't necessarily the case for someone who dies intestate."

"We are seeing a rising number of cases where the contents of a will are challenged. The increase in DIY wills is one factor that has lead to this, but our lives are often not as straightforward as they might have been a few years ago. Couples who are not married or in a civil partnership are buying homes together, there are second marriages and / or children from a previous relationships to consider or people might have a property abroad or a business, which can also complicate matters. Whilst people can choose to write their own wills, if there is anything about your will that is not straightforward then we would always recommend seeking professional advice."

"Making a will and other later life planning issues, such as inheritance tax, are issues clients often contact us about. So we've decided to deliver an online webinar on what we are calling 'later life planning'. This is being run in partnership with colleagues from Hart Greaves, independent financial advisors, and Richardson Swift, accountants, so we can give people attending plenty of useful information to plan effectively for later life."

The webinar is free to attend and takes place online on Thursday 18th March at 10.30am, lasting about an hour. For further information or to register to join please visit HERE : the T+ H site

     

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