Why post lockdown is the ideal time to plan and write your Will

PUBLISHED: 12:21 22 June 2020 | UPDATED: 12:59 22 June 2020

Securing your finances can provide reassurance for you and your loved ones during uncertain times. Picture: Getty Images

Securing your finances can provide reassurance for you and your loved ones during uncertain times. Picture: Getty Images

Archant

Aaron Flack from Redwood Wills and Estate Planning explains why now is a good time to consider writing your Will.

With a Will, you can ensure your assets are protected and passed on to your nominated beneficiaries in the most tax-efficient manner possible. Picture: Getty ImagesWith a Will, you can ensure your assets are protected and passed on to your nominated beneficiaries in the most tax-efficient manner possible. Picture: Getty Images

Q: When should I write my Will?

A: I’d recommend speaking to an expert about your Will sooner rather than later. It’s best to put plans in place for your family as soon as you can. It will be a weight off your mind.

Often people delay writing their Will because they think they don’t need it just yet, and they will get round to it one day, but the recent events of coronavirus have only highlighted the importance of preparing as much as you can for the future.

Securing your finances can provide reassurance for you and your loved ones during uncertain times.

Learn how you can support your family even when you are no longer around. Picture: Getty ImagesLearn how you can support your family even when you are no longer around. Picture: Getty Images

You can name legal guardians for your children, discuss how to protect what you have worked hard for and ways to mitigate inheritance tax. We can also talk about care home fees and appointing the people you trust most as your attorneys, in the event you are unable to make decisions for yourself.

Q: What will happen to my estate if I don’t have a Will?

A: Your estate will be distributed to your beneficiaries by following the rules of intestacy. These rules ensure that family members still inherit your estate, however, you do not decide who inherits what, nor is there any protection for loved ones and this is likely to harm your inheritance tax position. With a Will, you can ensure your assets are protected and passed on to your nominated beneficiaries in the most tax-efficient manner possible.

Q: Why should I seek expert advice?

A: There are many things to consider when writing your Will to ensure you can fully protect your assets and support your family, even when you’re no longer here.

You can pass on your assets in a variety of ways. An expert can explain what options you have, which is best for you and help you avoid making mistakes that will leave your loved ones vulnerable.

For only slightly more than what you would pay online to write your Will yourself, you can use a professional estate planning service and speak to an expert that will guide you through every step of the way and make the process as simple as possible.

Talk to one of our advisors for as long as you need to ensure this is the right option for you. You can then instruct us further when you’re fully happy with your decision and ready to proceed.

Call or email us to arrange your free consultation. We’ll review your estate and finances, discuss plans for your family’s future and the steps you can take to secure your assets. Whether your estate and wishes are simple, or you have a complex portfolio of buy-to-lets, we can help.

Visit redwoodestateplanning.co.uk for more information.

Call 01920 481 299 or email aaronflack@redwoodestateplanning.co.uk to speak to a member of the team.

Quote ‘Hertfordshire Life’ for a 10pc discount on Will and estate planning services throughout July and August.

Comments have been disabled on this article.

Latest from the Hertfordshire Life