2020 Vision

Has making a Will been on your to-do list for some time?

Very few of us prioritise estate planning. Often, the loss of a parent or a change of financial circumstances prompts us to take action.

A personal perspective

After months of procrastinating, I recently updated my own Will to include an asset protection trust.

It took a significant life change to trigger the process, so I completely understand my clients’ reticence. Sorting your Will might feel like a life event, but it’s simply part of sensible financial planning.

My youngest son’s 18th birthday was my kick into action. I no longer needed to appoint guardians in my Will.

The negative impact of dying without a Will has been clear to me for nearly three decades! The issues that were not clear and stalled my progress were the non-legal matters; the emotional decisions that every client must make.

The emotional side of making your Will should not be understated. It can be a sensitive and thought-provoking time, but it shouldn’t be an uncomfortable experience.

A real sense of peace comes from knowing your plans are in place and your priorities are addressed.

Guidance and providing clear choices are part of our process. There is no pressure. You don’t have to have all the answers at our first meeting.

Making a Will might be straightforward. Equally, it might take you on an emotional journey.

My husband assures me that our marriage is for life, but if I die before him, he hasn’t completely ruled out the idea of being with someone else. So, creating a trust in our Wills to protect our children if we remarry is sensible financial planning. Truthfully, I might not like the thought of my husband moving on after my death, but I’d like to plan for it just in case.

How often should I update my Will?

It is essential to make a Will and update it regularly. Significant life events can change your priorities. The key is to focus on the critical decisions and not get hung up on hypothetical situations or consider endless ‘what ifs?’. Deal with the present, and review when things change.

If you are thinking about making your Will or just want to know what would happen if you die without one, get in touch. Our advice is always free of charge - you can’t make choices without knowing your options.

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