Planning ahead: Wills and Probate

Neil Fraser, Director of Northumberland Wills and Probate explains why it’s essential to plan ahead.

 

Protecting family inheritance is something you should not put off for a rainy day.

Traditionally, most people left their home and possessions to their partner – but what if they were to remarry and die before their new partner, or go into care? Their family would probably miss out on the inheritance you planned for them.’

 

Making Decisions

Today we have many blended families, where new relationships bring together parents and children from previous relationships. This can make it difficult to decide who gets what when we pass away.

In addition, paying for local authority care is often a worry for people. But it doesn’t have to be an onerous process and importantly, people don’t need to make all the decisions about who gets what, right now.’

 

Trusts

Most parents want their children to benefit financially, but don’t want money going to a divorcing son/daughter-in-law. So nowadays many people use a Trust in their Will.

Trusts have been around for over 900 years and are not the preserve of the rich and famous; they are for every-day folk like us. Northumberland Wills & Probate specialise in Trusts, which makes the job of deciding who should inherit much easier.

Friends or family (Trustees) are appointed to make sensible decisions in the future when they will have the benefit of hindsight, supported of course, by a letter of wishes.

 

Inheritance Planning

Although people generally don’t like to talk about dying, it is inevitable, and it really is important to organise your affairs whilst you can.’

Professional inheritance planning is one of the kindest acts you can do for your loved ones. It gives you comfort and peace of mind that that your hard-earned assets will be dealt with how you would wish, regardless of the future.’

At Northumberland Wills and Probate, we work with our clients to ensure the best possible plans are in place for their loved ones. We establish what’s important to the client and advise them on how to future proof their legacy to allow for changes in circumstances down the line. ‘

 

Covid 19

Due to Covid19 lockdown, our meetings are held over online video, from the comfort of a client’s own home.

To arrange a FREE no-obligation meeting email enquiries@NorthumberlandWills.co.uk or call 01670 788200 or 07850 127649.

Post sponsored by Northumberland Wills and Probate

 

For more Money Advice see pages 94-103 in the Golden Guide Northumberland 2020 and see pages 96-104 in the Golden Guide Newcastle & North Tyneside 2019.