The failure to make a will can be expensive both in the potential tax risks, the legal costs in administering an estate where there is no will and the fact that those entitled to benefit may not be the people that you wanted to benefit. Indeed the failure to make a will or to update it can often lead to disputes about who may be entitled to the assets of an estate which can be damaging both on a personal level [between the people in dispute – who are often related] and the legal costs to the estate in dealing with the dispute.
Over the last few years the preparation of a will has become increasingly important; especially as the significant increase in value of residential properties has resulted in more and more people coming within the scope of Inheritance Tax.
The preparation of a Will is an absolute must in this day and age. This is a document whose preparation should be entrusted to someone who has the necessary specialist skills and knowledge. This is particularly true if a will is to be prepared in such a way as to minimise Inheritance Tax; since a poorly drafted will can cause more problems than it solves!
After someone has died assistance may well be required in dealing with their estate in accordance with the wishes set out in their will. This can be distressing as well as being onerous and time consuming. Also, in certain circumstances consideration can be given to varying the terms of will at this stage with a view to minimising Inheritance Tax to either that person’s estate as well as to any beneficiary.
At Amphletts we are able to provide the necessary specialist advice and service to deal with these matters. And can help you deal with all issues that may arise.