Where There’s A Will

There’s a Lot Fewer Arguments

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(Photo credit: Theophilus Photography)

This is the first in a what we hope will be a series of articles by or about local businesses, charities and other organisations.

Tim Williams who specialises in advising on inheritance matters has provided us with this guide to some of the things to think about….

“After eleven years in the Will writing profession serving Woodford Halse and surrounding areas in particular, I still find it hard to believe that nearly 70% of the English population leave the distribution of all their hard-earned assets for the law to decide whom it goes to. That’s what happens when someone dies without leaving a Will – that person’s Estate (literally everything they own) is declared “intestate” and dealt with under the laws of intestacy. In reality, this means very often that persons whom the deceased would have liked to benefit – don’t, and those whom he or she did not want to benefit – do!

“It also means that the person’s Estate has not been protected in any way against the potential of having to pay yet another hefty tax bill – this time 40% in Inheritance Tax – which is so easily legally avoidable, by simple planning measures through the Will and/or other Trust arrangements throughout lifetime.

Then there is the potential that the surviving partner or spouse may go in to long-term care, and with that comes the potential to forfeit the family home to pay for such care. Again, this is something which is so easily avoidable through careful planning and suitable arrangements put in place both inside and outside the Will.

“Most importantly perhaps is the stress which this can cause to those left behind who get embroiled in “tidying up the mess”, often finding themselves fending off the family feuds and coping with the bureaucracy and time delays which all of this inevitably causes. With all of this often comes the need to employ a specialist probate lawyer to deal with the deceased’s affairs at huge cost.

“The simplest answer of course is to write a Will. Not quite as simple as that though is it? No, but sitting thinking about it and doing nothing doesn’t solve the problem either! I wish I had a pound for every client who has told me they’ve put it off for years and years and a further pound for every client who has heaved a huge sigh of relief when they’ve finally got it done!

My Company – Tim Williams, only deals in Wills and associated matters related to Inheritance Planning and Protection of Assets, so we are therefore focussed and trained solely in this area of law. We visit all our clients in their homes or offices at a time to suit them – even at weekends if necessary. We then listen carefully to each client’s individual circumstances and suggest solutions which best cater for that clients needs and thereby solve any problems arising. We realise that no two clients’ needs are the same and each has his or her special need or concern which needs to be addressed.

We also recognise that making a Will is a very personal thing, during the process of which some very sensitive information may need to be disclosed. We therefore realise that a very high level of trust is required in all that we do and NEVER disclose any information whatsoever to any third parties and are bound by the Data Protection Act.

“To further reassure our clients of our complete discretion and their total satisfaction, as members of the Society of Will Writers, we are bound by, and abide by the provisions of their Code of Conduct at all times.

“So, if you or anyone you know, are amongst those who haven’t yet got round to making this very important document, please seriously consider it now or make it a New Year resolution to do so! To summarise what making a Will does for you:

  • Assets go to those whom YOU choose

  • Appoints Guardians for your minor children

  • Minimises or negates Inheritance Tax

  • Protects your Assets (including your House)

  • Avoids “sideways” inheritance of Assets

  • Avoids mis-direction of Assets on Divorce

  • Ensures swift distribution

  • Minimises family disputes

  • Gives Peace of Mind

“I hope I have convinced you that it is the right thing to do. If so, please give me a ring to make an appointment on 01327 261262. Even if you’re not quite convinced and would like to discuss certain issues of concern to you – please pick up the phone to arrange a free half-hour consultation on 01327 261262.

“Whatever you decide – I wish you a very Happy Christmas and a Peaceful, Prosperous New Year!”

Tim Williams – Specialist Advisor in Inheritance Matters, 2, Willow Close, Woodford Halse, Daventry NN11 3RZ

email: timewills@btinternet.com

Wills; Living Wills; Lasting Powers of Attorney; Long-Term Care Cost Issues; Inheritance Tax Planning; Executor, Trustee and Probate Services; Will Trusts; Lifetime Trusts; Protective Trusts; Secure Document Storage