Recent research has indicated that 55% of adults in England and Wales don’t have a Will in place. There are various reasons for this, however, we believe the main reason is a lack of awareness of the need to have a Will and not knowing the potential problems not having one may cause. We want to help you understand the importance of making a Will and why it is especially important to take legal advice when making one. Here at BLM, our mission is to guide and inform you about the Will-writing process, in a clear and straightforward manner, so you can make decisions safe in the knowledge that you have received expert advice.
Our expert Wills team can help you make the best possible decision when it comes to your Will and overall Estate Planning, providing a service that goes above and beyond the industry standard. We will discuss the options available to you and advise you on the best way to proceed.
Let’s talk now to discuss how we can help you plan your legacy. Call us on 0203 507 1609.
What is a Will?
A Will is a document which sets out your wishes in relation to the disposal of your estate on your death. Perhaps more importantly, if you have children, it allows you to appoint guardians to look after them should you die before they reach the age of 18.
Why should I make a Will?
If you don’t make a Will, you have no say as to who inherits your estate. This may result in:
- Your spouse / civil partner only inheriting a proportion of your estate.
- Your children inheriting a proportion of your estate instead of your spouse / civil partner.
- Minor children inheriting money at 18, you may consider this too young.
- If you are cohabiting, then your partner will have no entitlement to your estate.
- Remote family members inheriting your estate.
By making a Will you are ensuring that:
- Your estate will be administered by someone you trust.
- Your chosen beneficiaries inherit your estate in the proportions you decide.
- Guardians are appointed for your children.
- You protect assets from future events.
- Help to mitigate inheritance tax.
With the right planning, you can protect yourself and your loved ones with a Will. Find out more here.
How much does a Will cost?
The honest answer is that it depends. On average, a relatively straightforward Will costs around £150 - £300 plus VAT.
If your personal matters are more complex (such as if you have business interests, inheritance tax issues or you have a blended family) and a form of trust is required, then the price of your Will will increase. On average, a Will including some form of trust structure would be around £600 - £1000 plus VAT.
If you are thinking about making a Will and you don’t know where to start, our Estate Planning Checklist should make things a little easier. There is no one size fits all, the purpose of the checklist is to highlight matters that are important to you, that you may not have previously considered. Access the Estate Planning Checklist here.
Our mission is to help you make the best possible decision when it comes to your Will and overall Estate Planning. We will provide you with the best possible value – above and beyond the industry standard. Many firms say they prepare Wills but most tend to prepare the Will the client thinks they want rather than the Will they need for their individual circumstances.
We will present you with the options available to you and advise on the best way forward, so you can make a fully informed decision that is right for your own personal circumstances. This has been distilled into our philosophy: We advise; you decide.
Contact us on the details below to make an appointment to discuss your Will requirements.
During these uncertain times, we want to give back to the community and give people peace of mind. Therefore we are offering a free 30 minute personal risk conversation to discuss your wills and estate planning and give you one less thing to worry about
To find out more, click here.