If you have an informal ‘Common Law’ relationship then your partner gets nothing at all when you die. In fact they could loose the home you shared.
If you don’t make a Will:
- You Partner or spouse may not inherit all your belongings
- You may create an unnecessary tax bill for your beneficiaries
- Your unmarried partner could be made homeless
- If you are separated, your estranged spouse may benefit
- The courts may choose guardians for your children if your specific wishes are not documented
- Your business may be divided up, sold or given to your ex-spouse
- Dependents needing care may not receive your financial assistance
- Others may claim on your estate creating costs and delays.
How many people in the UK do not have a valid Will?
*30% of over 65s
45% of 55-64 year olds
61% of 45-54 year olds
*Figures taken from the National Consumer Council “Finding The Will” 2007
You are one of the privileged people who know how to protect your assets for your future generations. is your own inheritance due from your bloodline protected in the same way?
Let us help you. At Matplus, we are dedicated to helping you make the most of your finances.
Tax Benefits for a Will
You are legally entitled to arrange your affairs in order to minimise the amount of tax owed. This can be achieved by making changes to the way you own your assets. Trusts are legal structures that allow you to control the ownership of assets. Whilst you are alive you have full control over the trusts and you can amend the names of those who benefit (beneficiaries), appoint trustees and vary the terms.