Where there’s a will…

UK law does not require that you have a written will, however without a valid will your estate will be distributed according to a predetermined legal process.
This means that that your spouse, civil partner, partner or family may not automatically benefit from your estate as you would have wished. A valid will allows you to decide exactly what will happen to your assets after your death.

Why it is important to have a will:

• You, rather than the law, will decide how your assets be distributed;
• If you are in a relationship (not married/registered civil union), a will can ensure your partner is provided for;
• If you are married or have registered a civil union you may benefit from the nil rate band;
• If you have children, a will can ensure that the necessary arrangements are made in the event that one or both parents passes away; and
• You are able to ensure that you do not pay more Inheritance Tax than necessary.

About Inheritance Tax:
The law allows an individual to bequeath an Inheritance Tax Free amount of up to £325,000. The Inheritance Tax Rate is due at 40% on the amount over the £325,000.

What to consider before having a will drafted:

• What is the value of your estate?
• Do you have any specific funeral wishes?
• Who will be the guardians of your children?
• Who will ensure your estate is carried out according to your wishes after your death?

For help with drafting a will, contact Jo-Anne Deeb BA LLB (SA) of Sable Group on 0207 759 5391 or Jo-Anne.Deeb@sable-group.com