To Will or Not To Will

 

 

It’s easy to think that you don’t need a will or that you have plenty of time to make a will. 

 

But when people die without a will, or don’t update their will, it can be a huge problem. 

 

When it comes to making a will, we procrastinate. It’s understandable, no one wants to make a will because it’s an emotional subject. 

 

Some people think it’s morbid to make a will, others don’t know where to start or what to put in a will and other people are superstitious and think making a will might cause them to die. 

 

At NBB Law, we understand that death is an emotional subject and that it can bring out the best and worst in people. We know people are worried about getting it wrong that’s why we are here to help you get it right.

Why People Don’t Make A Will

When it comes to wills, people make assumptions. They often think:

• They still have time to make a will
• They can rely on the government rules and regulations to deal with death and inheritance
•  They think their loved ones will automatically inherit without a will in place

 

We’ve got a solid sixty years of helping people navigate this emotional and difficult legal area, and we recognise that people often make the wrong assumptions about wills and inheritance. 

 

We know for certain that no one knows when they will die and we also know that you cannot rely on the government’s rules and regulations to ensure that your loved ones will be provided for as you wish. 

 

The rules relating to wills and inheritance are over 100 years old and are just not suitable for today’s modern society. 

No Will No Control or Choice

We’re going to share a typical situation that shows you just how unfair these laws can be.

 

Mr Beale was happily married to Emily, and they had two young sons, Wolf aged 7 and Gerald aged 9. They lived in a modest house valued at 450k and had savings of 75k, which he had set aside for his son’s education. The house and the savings were in Mr Beale’s sole name. 

 

Mr Beale had an ex-wife, Cindy, and two adult sons. They lived in Italy, and he hadn’t seen them since his wife left him 20 years ago. They hated each other.

 

Unfortunately, Mr Beale died in a road traffic accident. He died without a will. 

 

Who gets the house and the savings?

 

In an ideal world, it would be Emily, but in reality, where there is no will, the Inheritance laws will apply, and sadly for Emily, the first wife, Cindy and his two kids will get the bulk of the estate.

 

A simple will expressing Mr Beale’s wish to leave Cindy the house and savings would have prevented this terrible tragedy and ensured his wife and two boys were looked after as he intended. 

 

There is never a good time to make a will but it will always be the right thing to do. 

Why Wealthy People Make Wills

Wealthy families know this, and they view making a will as part of their money management regime. They take control and they prepare so that their wishes are fulfilled and their money, property and assets go to the right people.

 

Wealthy people know that when you make a will, you can:

 

• Choose who gets what (your beneficiaries)
• Appoint someone you trust to manage your estate (your executor)
• Name someone to look after money or assets for a young or vulnerable person (a trustee)
• Name guardians to look after children under 18
• Make specific gifts (items or cash to family, friends, or charities)
• Potentially reduce inheritance tax
• Provide instructions for your social media accounts
• Explain your wishes for a funeral

By making a will they ensure their money and property stays in the family and is looked after when necessary, this ensures future wealth.

As you can see, there are many good reasons to take control and make a will now. 

Just Twenty Minutes For Peace of Mind

At NBB Law, we are here to help guide you through the legal process. You’re in safe hands with our experts. A will doesnt cost the earth and its a small price to pay to ensure your wishes relating to control of your money, property, kids and pets are carried out.

 

For a simple will, just 20 minutes of your time is enough to create an effective will that ensures your wishes are carried out, giving you and your loved ones the peace of mind and security they deserve. 

Don’t delay. Act now. Leave your name and number in the box below, and we will call you back.xxxxxx

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