Did you know that 7 out of 10 people in this country never make a Will? Some don’t like to think about it whilst others don’t even bother because they assume that everything they own will automatically pass to their nearest and dearest.

Why do I need a Will?

Making a Will is the only way to ensure that your wishes are carried out after your death and that the people you care about are provided for.

Your Will enables you to:

• Choose who will be responsible for winding up your affairs.
• Appoint guardians for your children
• Plan to reduce the burden of Inheritance Tax

What happens without a Will?

Without a Will the Law decides who gets what from your estate and your wishes will count for nothing. Without a Will all sorts of family disputes can arise. Families today are often complicated involving divorce or separation, second marriages, couples living together, stepchildren and adopted children.

No Will could mean:

  • Your spouse may not inherit the whole of your estate
  • Your spouse or partner may have to sell the family home because the Law says other relations are entitled to a share.
  • If you are not married, your partner’s entitlement may be very limited.
  • The rules set out by the Law may not favour relatives you would not wish to benefit.
  • With no immediate family the Government can inherit all you have.
  • A larger Inheritance Tax bill for your family.

These are just some of the problems that can arise if you do not make a Will.

Should I update my Will?

Quite simply the answer is ‘yes’. Keeping your Will up to date is almost as important as writing one in the first
place. Everyone’s circumstances change over time and we recommend that you review your Will at least every
five years, or more frequently if there is a major change in your circumstances.

Home made Wills or even an out of date Will can create more problems then they solve. None of this need
happen If you make a proper Will. Contact us for an appointment to discuss your requirements. You should allow 30 to 45 minutes for the initial interview, which allows us to take full instructions.

Before making a Will you may like to consider:

• Estimating the approximate value of your estate by calculating what your assets and/or savings are
• Choosing your Executors – these wiil be the people responsible for carrying out the terms of your Will.
They can be relatives, friends or professional people. Executors can and often are aiso beneficiaries
under the Will.
• Making a list of any gifts of money or any particular possessions you may wish to leave to particular
• Who will receive the rest of your estate and who will inherit if these beneficiaries die before you?

Clare de Ritter
Email clare@claytonmott.co.uk

Free Will Fortnight

For the first two weeks in October we are doing free Wills in association with Nottinghamshire Hospice.

For more information go to: http://www.nottshospice.org/get-involved/make-your-will-fortnight/

Or contact Clare de Ritter at: clare@claytonmott.co.uk