Writing a will is something that most tend to put off, but everybody should have a will and review it at least every five years especially after major life events such as marriage or starting a family.

The number of people in the UK with a will is actually decreasing, with nearly 4 in 10 over 55s still going without. Should the unthinkable happen to someone without a legal will in place, there are unfortunate consequences. So why are people still avoiding making one?

There are a number of common reasons; some feel it is something that should be dealt with later in life, others think they don’t have enough worth passing on, while many assume their estate will automatically go to the right person. However, this isn’t necessarily the case.

Here are the key reasons why you should make a will sooner rather than later…

• It makes it significantly easier for your family and friends to sort everything out should you pass away. Without a will in place, the process is more time-consuming, not to mention stressful.
• If you have children under eighteen a will can appoint a guardian so they are cared for by somebody you have chosen.
• Without one, everything you own is shared out using a standard procedure as part of the law. This means it will not necessarily be dealt out in the way you wanted.
• A will can help reduce the amount of Inheritance Tax that might be payable on the value of the property and money you leave behind.
• If you have children or other family members who depend on you financially, or if you want to leave something to people outside of your immediate family, writing a will becomes especially crucial.

What are the next steps?

At Pace we can make the will review process quick and stress-free for you – so you have complete peace of mind. If you would like to find out more about our Will and Tax Inheritance Services, get in touch today.