ARE YOU MARRIED?
If so, don't assume that everything will automatically pass to
your spouse at death. If you haven't made a Will, the Law may
decide how your possessions will be distributed, sometimes
at the expense of your intended beneficiaries.
IF YOU'RE MARRIED,
DO YOUR JOINT ASSETS EXCEED £325,000?
If so, make sure that your Wills are correctly drafted so that you
are able to take full advantage of current tax allowances.
This simple measure could reduce your eventual tax bill by
up to £130,000.
ARE YOU UNMARRIED?
Perhaps you have been living for some years with your partner
but have never married. If you should die without a Will nothing
will automatically pass to your partner. They will only be able to
claim a share of your estate if you were living together
throughout the two years immediately prior to your death.
DO YOU HAVE CHILDREN?
If so, it is essential to arrange a Will. It is the only way to
nominate Guardians for your children if you should die before
they reached the age of 18 - otherwise the Courts would have the final
say.
ARE YOU AN UNMARRIED FATHER?
If so, you have no recognized link in Law to your own children
and would not automatically become their legal Guardian on
the death of their mother - unless you take special steps.
ARE YOU IN A SAME-SEX RELATIONSHIP?
The Civil Partnership Act – legislation which,
for the first time, recognises the legal and financial rights of same-sex
couples - has now become law. There are many benefits for qualifying
couples but it’s not right for everyone.
ARE YOU IN BUSINESS?
Then it is essential that you understand the impact of new
legislation so that you can avoid the legal pitfalls, strengthen
your business and increase its profitability.
