Our 'Planning for your Future' podcast series discusses, in everyday language, how planning can help you navigate your way through the ups and downs of life and how getting your affairs in place now can assist your loved ones’ future responsibilities.
In this episode, experienced Private Client Solicitor, Lisa Maley, talks in detail about planning and writing your Will, Codicils and their function and any Inheritance Tax liabilities.
Your Will allows you to dictate what happens to your estate and any children, for whom you have parental control, when you die. It enables you to make provision for those that you wish to benefit and preclude those that you may feel are not entitled to benefit for personal reasons. Families have become more complicated and diverse and as a consequence the act of Will drafting has become more of a minefield than ever. When drafting a Will it is important to consider a vast array of factors, including the potential risks or a claim against the estate by aggrieved parties and any adverse tax consequences that may arise as a result of your wishes.
The task appears, on the face of it, a simple one but the impact of the Will can be anything but simple and straightforward. This is often realised by the people that you leave behind, when it is too late!
We’re right by you… through the good times, challenging times and sad times.