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Give those you love the gift of security this Christmas….make a Will.

I'd like to gently jog your memory about something really important: Wills!

A Will isn't just a stack of legal papers. It's your way of safeguarding your legacy and ensuring your loved ones are looked after according to your wishes. It can be quite reassuring, knowing that you've made arrangements for the people and things that matter most to you.

  1. Curious about what happens if you die without a will? Well, in that scenario, your estate gets divvied up following the rules of intestacy. This means you'll have no say over who inherits your assets and how much.

  2. Guardianship for Children: You can appoint legal guardians for your children. Without a will, this decision might end up in the hands of family courts.

  3. Financial Support for Dependents: You can plan for your children's financial future, making sure they have access to education and other essentials.

  4. Protection for Unmarried Partners: Unmarried partners don't automatically have a claim on your estate. A will ensures they receive their fair share.

  5. Avoiding Family Disputes: A well-drafted will can prevent family conflicts and provide clarity regarding your wishes.

  6. Minimizing Inheritance Tax: This ensures that more of your assets go to the people you love.

  7. Naming an Executor: You can designate someone you trust to carry out your final wishes, simplifying the process for your family.

  8. Caring for Pets: You can specify who will look after your furry friends once you're no longer around.

  9. Protecting Digital Assets: Your digital footprint, including emails and social media accounts, is part of your legacy. Decide whether you want this information destroyed, preserved, and whether you need to share passwords with your executor.

  10. Supporting Charities: If you're passionate about a charity, you can leave a contribution for them in your will.

"I already have a will, so I'm OK thanks."

For those of you who are feeling a little smug about the fact that you have already got your Will sorted, here are a few reasons why you should think again…

While it's great that you've taken the step to create a will, there are several reasons why you may not be as 'OK' as you think:

  1. Outdated Information: Life is constantly changing. What was relevant when you created your will might not be the case anymore. New family members, assets, or wishes may have emerged, and your existing will might not reflect these changes.

  2. Insufficient Protection of Assets: Having a will is important, but it may not sufficiently protect your assets from risks like sideways disinheritance, where assets intended for one beneficiary can end up benefiting someone else due to unforeseen circumstances.

  3. Inadequate Provisions: Your existing will might not cover all the essential aspects of your estate planning. For instance, it may not address digital assets, guardianship for children, or the specific distribution of sentimental items.

  4. Legal Changes: Laws surrounding wills and estates can change over time. An outdated will might not align with the current legal landscape, potentially leading to complications and unintended consequences.

  5. Beneficiary Changes: Relationships evolve, and beneficiaries named in your will might no longer be the individuals you want to inherit your assets. Updating your will ensures your assets go where you truly intend.

  6. Financial Changes: Your financial situation may have changed significantly since you created your will. This can impact tax implications, and updating your will can help you optimize your estate for tax efficiency.

  7. Executor Consideration: If the person you initially designated as the executor of your will is no longer suitable or willing to fulfil that role, you'll want to update this important decision.

  8. Charitable Giving: If you've developed a passion for a new cause or charity since creating your will, you might want to include provisions for them in your updated will.

Remember, keeping your will up to date is crucial to ensure that your wishes are accurately reflected and that your loved ones are well taken care of. So, even if you already have a will, it's a good idea to review it periodically to make sure it still aligns with your current circumstances and wishes.

Feeling ready to secure your future? – act now and save money!

I know this has been a tough year financially for many, and with Christmas coming up fast, the expenses are still coming. So, with a view to easing those financial pressures a little, Peritum Wills is currently offering a 30% discount on the price of your Will if you start the process with us before November 30th, 2023!

So don't delay – give me a call or drop me a message to start the process today and save money on your new Will.


Colin Barrett-Treen is a Director & Principal Estate Planner at Peritum Wills.

Ancojada wills Limited trading as Peritum Wills is not authorised or regulated to provide financial advice.

All financial advice is provided by other regulated businesses.

The Financial Conduct Authority does not regulate Taxation, Trust advice or Will writing.

Trusts are a highly complex area of financial planning.

Information provided and any opinions expressed are for general guidance only and not personal to your circumstances, nor are they intended to provide specific advice.

Tax laws are subject to change and taxation will vary depending on individual circumstances.

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