‘SAFEGUARD INHERITANCE BY MAKING A WILL’ – HALLIDAYS

Hallidays are urging everyone to consider the implications of not safeguarding the future of their business and family if they pass away ‘intestate’, if they do not make their wishes known by not leaving a will.

Those who put off making a will often do so because they don’t feel it’s relevant or they presume anything they leave behind will automatically go to the right people.

Nigel Bennett,Managing Director explains:

“Without a written Will you lose control over who will receive your inheritance and it could mean that the people you most care about don’t inherit anything.

“Writing a Will gives the security knowing that your assets will be inherited by the people you want them to and if you have minor children there are people chosen by you to look after them. Everyone should have a Will written. Though if you have dependant relatives or you own property or assets you want someone to inherit, having a Will is essential.”

Dying without making a Will is called having died Intestate. If this happens the Intestacy rules are used to decide which people inherit your assets. From 1^st October 2014 this means:

• The only way non-married partners can inherit each other’s Estate is to make a Will.
• Married spouses are now entitled to the whole Estate if their husband/wife dies without a Will and they have no children.
• The surviving spouse receives the first £250,000 of the Estate and any personal belongings. They are then entitled to 50% of the rest of the Estate – the remaining 50% goes to the deceased’s children.

Who can make a Will?

Anyone over the age of 18 and of sound mind can make a will. However:

• A member of the armed forces can make a will under the age of 18.
• It is possible, due to the Mental Health Act 1983, for a Will to be made out for someone if they are mentally incapable of doing so themselves.

Is making a Will difficult?

No. A Will simply involves a written list of all your property and assets followed by who you would like to inherit them. If you have minor children, it will state who you would like to take care of them.

If you would like further advice on writing a Will, contact Hallidays on 0161 476 8276 or email hello@hallidays.co.uk