Blackmore Wills

18/10/2020

Do you have minor children?

Every now and then I hear someone say I don’t need a will as I don’t have anything to leave anyone or everything passes to my husband/wife. The first question I ask is do you have children under 18? Not all but lots of people say yes I have children under the age of 18 why?

My reply is you need to have a will professionally done for that reason alone.

The harsh reality is that if your minor children are left without biological parents and you haven’t assigned guardians to look after them then your children will go into care whilst the courts decide who is best placed to look after them.

The last thing any parent would want is for their child to be taken into care at such a traumatic time. Unfortunately, many people are not aware of this fact and it gets overlooked. By assigning guardians in your will to look after your children you can rest assured that should the worst happen your children are looked after by the person or people you would choose and not who the courts decide upon.

If you need a will or advice on estate planning please call me on 0161 3271605 or email [email protected].

01/09/2020

https://youtu.be/WshmuuzI4l4

This video explains why you should have Lasting Powers of Attorney in place.

22/07/2020

10 Things you need to know about making a will

1. For a will to be legal it must be in written format. The person making the will must sign it and it needs to be witnessed by two people who are not benefiting from the will.

2. To make a will you must have full mental capacity.

3. You can use a will to reduce your inheritance tax bill. If you leave at least 10% of your net estate to a charity your rate of inheritance tax is reduced from 40% to 36%.

4. If you get married this invalidates any previous wills that have been written so make sure to create a new one.

5. If you get divorced your will is still valid.

6. If you live with your common-law partner and do not have a will in place they have no automatic rights to your assets.

7. Anyone can challenge your will if they feel they should have benefited from your estate.

8. A will can be used to appoint guardians for your children otherwise the decision is left with social services as to who looks after them.

9. If you do not have a will or relatives your estate would go directly to the crown or the Duchies of Cornwall.

10. A mistake in your will can invalidate it this can be very expensive and a big problem to sort out.