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Don t leave your family and children with extra costs and complications.
People who pass away without an up to date will, or intestate, leave complications and costs to their family and often gift lots of money to the Government in what may be avoidable Inheritance Tax (IHT).

The Law Society says that anyone with possessions and family or friends should make a will, disregarding of their years. It is especially important if you are not married to your partner, because the law does not give partners the same rights of inheritance as spouses.
Property that is owned jointly by unmarried partners on a joint tenancy basis would still go to automatically to the existing spouse under the rules of survivorship. Under the current intestacy rules, an unmarried partner has no rights to any assets that were not jointly owned (although the Law Commission has of late suggested to change this).

Constructing a will is also critical if you have minors, as you can appoint guardians to care for them.

It is critical to make a list of assets and liabilities and their approximate worth. Include your properties, investments, savings, insurance policies and pensions.
In addition, consider details of individual bequests. Just informing a family member that an item will be his or hers one day could cause difficulty later.

You should obtain professional advice on estate planning as part of writing your will. Easy steps could save the beneficiaries of wealthier householders thousands of pounds in tax.

A vital element of constructing a will is the appointment of executors to make sure that your will instructions are carried out.

You should also your will every or so and whenever your circumstances are altered by a important life event, such as marriage, divorce or a birth or death in the immediate family. Another example would be after a house buy or move.

Whoever makes up your will, make sure at least 1 copy is kept safe or deposit 1 with a probate registry.

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