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Making a Will

There are many reasons why you should make a Will. You can decide who will deal with your estate; you can leave money or personal items to friends; and you can minimise your inheritance tax bill.

However in certain family situations it is even more important, for example:

  • if you are in a second marriage
  • if you are cohabiting i.e. living with somebody but not married
  • if you have stepchildren
  • if you want to exclude someone from benefiting from your estate

In any of the above scenarios if you have no Will inflexible legal rules will decide how your estate is dealt with so leaving a will is vital to ensure that what you want, happens. If you have a substantial estate the law does not even pass all of it to your spouse, and some of the assets may pass to more distant relatives. In some cases this may involve sale of the family home.

In a will you can leave your estate in a tax efficient manner, perhaps by setting up a trust. If you have young children you can choose guardians for them in your Will.

Having made your first will, remember to review it every few years or if your family or financial circumstances change.

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We provide advice on a wide range of legal issues to clients around Yorkshire from our offices in Leeds, York and Sheffield. For an initial discussion on the specific details of your case contact our solicitors today.

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