Whilst the thought of writing a Will may not be particularly enjoyable, it is certainly worthwhile, an expert has suggested.
Speaking to nebusiness.co.uk, probate specialist for high-wealth individuals Helen Tavroges advised that despite many people opting to put off writing a Will, doing so could mean that the people you want to give your estate to, could be left without a penny.
Acknowledging that by dying intestate, a person’s estate will not go to step-children or live-in partners, even if they wanted it to, Tavroges suggests that families should forget about it feeling awkward or unpleasant and just do it or make your family face the repercussions.
Tavroges claims that writing a Will is easier than many people think and will take considerably less time. As such, she suggests, it should be at the top of any to-do list for anyone who has not yet got round to it, for whatever reason.
“The prospect of making a will can seem daunting,” Tavroges told nebusiness.com, “but by not having one in place when you die, you risk the chance of your estate being passed as you wish becoming very slim.
Concluding, Tavroges told thefreelibrary.com: “Aside from the obvious, there are numerous benefits of having a well-drafted will as it can lead to savings in inheritance tax and provide asset protection in a variety of circumstances, so it is important to get it right first time.”