Financial & Legal News

Why making a Will is more important now than ever

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“To my daughter, I leave £1 – for the kindness and love she has never shown me.” 

Shakespeare left his ‘second best bed’ to his wife, then died about a month after this Will was written, having caught a fever at a 'merry party' thrown by fellow writer, Ben Jonson.  

Are just some examples of famous Wills - as we see Shakespeare planned ahead and now more than ever it’s important to get your affairs in order.

Importance of Making a Will

Death and paying taxes are two certainties in life. A fact highlighted to everyone across the world. If nothing else, the global pandemic has taught us how unpredictable life can be. Zoe Johnson, Wills, Trusts, Tax and Probate Legal Adviser at Pearson Solicitors in Oldham shares the importance of making a Will in 2021.

“Now, more than ever people realise the importance of family; having a Will in place can help relieve any worries you may have about your loved ones when you are gone,” says Zoe.

“Whether your family and financial circumstances are simple, or complex, we can advise you fully on what we believe is best for you and your family and make sure what you want is carried out.”

“Planning ahead is so important - after working hard to buy them often houses are our biggest asset, but sadly you can lose 100% of this asset simply covering care home fees  if in later life you need care. It doesn’t have to be this way as there are things that can be put in place in your Will to protect as much of this asset, or other assets, as possible,” advises Zoe.

Free Will Review

Pearson Solicitors and Financial Advisers offer a 2 hour Free Will Review service so why not update that Will that has been sitting in storage for 20 years?

You’ll get tailored advice to help you meet your objectives and we can take the time to get to know you and what is important to you.

Review your Finances and plan for the future

Zoe Johnson, Legal Adviser for Pearson Solicitors and Financial Advisers explains:

Now that we are seeing the light at the end of the tunnel in regards to Covid19, it is time to review your finances and start making plans for the future.

Before you jet off on holiday or return to work, why not review your Will, or even make your first Will? Making a Will is not just about who receives your money, it is about receiving expert advice on the best way to structure assets to maximise inheritance for your family members and even long term multi-generational estate planning.”

Our Expert Will Writing services

There is often a reluctance to make a Will and people put it off throughout their lives until unfortunately, it is too late.

“What’s left is loved ones in the unknown, worried, grieving and often having to jump through hurdles they never knew existed. Making a Will with an expert who knows how to meet your objectives can ensure your loved ones do not suffer these hardships and are supported through the difficult process,” adds Zoe.

Why is a Will so important?

We hear excuses like, ‘I’m not old enough to make a Will’.

Everybody needs a Will particularly if you have assets i.e. property, or digital assets you never even knew were covered in a Will.  Whether you are 30 or 70, it is vital that you put a Will in place.

Wills are legal documents that also allow you to appoint guardians for your minor children, highlighting the relevance of Wills for younger families. Your godmother and father will not have any legal standing when it comes to your children’s living arrangements should you pass away.

Another reason we hear is, ‘I’ll wait until my capacity deteriorates and then make one’. If you wait until it is too late, you will be unable to make a Will as mental capacity is necessary. Once you have lost the capacity needed to make a will unfortunately it will be too late.

Intestacy Rules

Sadly, there are cases of the wrong people inheriting because Wills have not been updated.  As in the case of Barry White. He did not leave a Will and so under intestacy, his estranged wife received everything, over his partner that he had spent many years with. There are rules of intestacy that may not be in the favour of those you would like.

 “Make sure the ones that should benefit, do benefit, by making a Will,” stresses Zoe.

Why choose our specialist Will writing solicitors

What better recommendation can you have to ask Pearson Solicitors to prepare or update your Will than the following testimonials?

  •  ‘Zoe and her team have handled my file excellently, especially during a global pandemic.’
  • ‘Lucy made a difficult process very pleasant and my parents now feel very much more at ease’
  •  ‘Zoe was very professional and knowledgeable and easy to do business with. She was thorough and filled me with every confidence. Pearson are driven by excellent service and not fee driven’.

If you would like more information about Wills either to make your first one or ensure yours is up to date please contact Pearson Solicitors and Financial Advisers on 0161 785 3500 or email enquiries@pearsonlegal.co.uk

Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.

Written by Zoe Johnson

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