Free Wills Month: What it is and why is a Will important?

Wills - the Missing Piece in the Puzzle. Free Wills Month is a great annual incentive for householders to address the important issue of what happens after I die. Most people will put off arranging a will as to be honest, it's seen as a bit of a negative and depressing subject however it is vital that everyone leave their intentions for their possessions, property, investments, pensions, money, etc no matter how insignificant they can seem to them. The urgency is especially true for parents with children under 18 years of age - no one surely envisages trusting a local authority social services department in making decisions on your dependant's futures, do they? A will simply allows you to, after your death, decide what happens to anything that you own and more importantly who you would like to benefit from anything as a beneficiary - the alternative is potentially a family row and falling out because you haven't made your intentions formally known to them. Arrange yours a.s.a.p. free.

This will be the third time we have taken part in "Free Wills" month. Sponsored by a group of charities who often benefit from the wills drawn up. It is a terrific scheme that reminds people of the importance of having a will and means that a basic will is available to everyone.
It is free to anyone who needs a basic will, with a nominal fee being paid to the lawyers drawing up the will by the sponsoring charity. If you need something more complex like a trust for example, this may carry an additional fee that would need to be paid for.

Having a will in place is important, even more so for unmarried couples, or co-habitees who do not benefit under intestacy rules. We often deal with estate disputes due to the unexpected consequences of individuals dieing intestate and they can be very expensive and emotionally traumatic. A will can ensure that your house and other assets pass to those you love and wish to inherit.

For those with young children, the most important reason to have a Will is so that you can nominate who you would like to look after your children if you were to die.

For many others, it is very important to have in place as part of your Inheritance tax strategy. Whilst a Will on its own does not mean you avoid paying IHT, when put in place a part of you overall Financial Planning strategy, can really help to ensure your IHT is as low as possible.