It’s January, a time for fresh starts and positive changes, new gym memberships and healthier eating. Whatever, you’ve resolved to change or do in 2022, it’s not too late to add another – very important – task to your plan: making a Will. You’ll be surprised how good you feel once you’ve finally crossed it off your to-do list.
Who inherits your estate if you die without a Will?
Thinking and talking about dying is something no-one wants to do. But having those difficult conversations and making plans now, while you’re alive and in good health, will protect your loved ones from the potential nightmare of you dying without a Will.
Why you should cross ‘make a Will’ of your to-do list
Research shows that almost two thirds of UK adults don’t have a Will. That’s not to say they don’t know the importance of having one; it’s often just that they haven’t got around to it yet. Sadly, putting it off until tomorrow could mean your loved ones lose out on what you hoped to leave them in the future.
What’s mine is yours… the disadvantages of Mirror Wills
It is common practice for couples to leave everything to each other in their Wills, with the estate passing on to their children when the surviving partner dies. However, this arrangement – known as Mirror Wills – may not protect your children from losing their inheritance in the future.
Will review: Helping to protect your loved ones in these uncertain times
In such uncertain times, we feel privileged that our clients have turned to us as trusted advisors across all the services we offer at RfM. We have been urged by a number of grateful clients to spread the word about our Will review service and encourage others to consider what we usually don’t think about.
Why use a Trust as well as a Will?
Making a Will brings peace of mind that your loved ones will receive the inheritance you wish to give them in the future. However, a Will alone does not always protect against the ‘what ifs’: those unexpected yet common life events that could lead to your loved ones losing their inheritance. Here we look at the benefits of using a Trust alongside a Will to make a formidable estate plan.
Inheritance Tax Planning: Over 50s hold most property wealth
According to a recent report from property experts, Savills, 75% of the UK’s housing wealth is now owned by the over 50s. Small wonder, then, that the yield from Inheritance Tax is rising. What can you do to minimise the impact of IHT on your estate?
Making a will has given me peace of mind
After a decade of procrastinating, RfM Creative Consultant Alison Arthington recently made her Will with RfM Legal Services. Here she explains why she finally ticked it off her to do list and how she found the experience.
Could your loved ones’ inheritance be at risk?
If making a Will is something you keep meaning to do but haven’t got around to, we can’t stress the importance of moving it up your ‘to do’ list.
Inheritance Tax planning and reliefs
Inheritance Tax (IHT) at a rate of 40% may be charged on the estate when someone dies, unless it has been left to a spouse or civil partner. When planning to mitigate the impact of IHT, there are a number of key points and tax reliefs to bear in mind.
