Will it make a difference?
Published: 29 December 2016
Author: Hayley Crossman-Shaw
Category: Firm News
Professionally, I am at the top of the tree. I have a lot of people below me and have enjoyed many Christmases at the top, surveying my empire. I now worry about what would happen to everything when I am no longer here. How can I prepare for this and ensure that everything I have goes to my little star who will one day take my place?
Mrs F. Airy – Top of Tree, Lapland
Dear Mrs F. Airy
Thank you for your letter. There are still many people who have not got a valid Will in place despite having assets, regardless of how large or small.
Unfortunately, a Will is something which languishes on a ‘to do’ list due to the busy lives we lead today. I would suggest that you consider making a Will which covers those assets which you would like to pass on after your death. If, say for example, you should find yourself prematurely sent to the loft for eternity without making a Will then your assets would have to pass under the Intestacy Rules which can be a long and drawn out process and may mean that your assets do not end up with the people to whom you would like to leave them. The Intestacy Rules mean that gifts have to pass in accordance with those relatives alive at the time of your death.
I would urge you to consider making a Will and suggest that you seek some legal advice in relation to what assets you have and how to provide for your family after your death as there are a number of options available to you.