Do you have a significant other in Braintree? Even if you do not have a significant other, it is still important to look to make a Will to ensure that your estate goes to those that you want to benefit. With this in mind, Laura Richardson now considers some of the key Estate Planning issues associated with not having a significant other in Braintree when it comes to looking to make a Will in the article that follows . . .

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Without a “significant other” or children it may seem that there is little point in making a Will. However, if you die without making a Will then it is completely out of your control who inherits your estate.

Ultimately your Will is the legal expression of your wishes for your possessions, and by making your Will, you control the disbursement of your estate. If you do not have children of your own it may be that there are other children who are important to you. Perhaps you have god-children, nieces or nephews or other young relatives that may wish to leave some of your estate to. Equally, should you wish to do so, you could leave your estate to a friend or someone that has been a large part of your life such as a carer, or a co-worker, or simply someone that you know that would benefit from the inheritance in some way.

Many people have one or more treasured possessions which have significant personal value to them, these may not have financial worth but you may wish to ensure that they are bequeathed to someone who would appreciate the value and significance that these items had to you. You are not required to tell anyone the contents of your Will so this could remain completely private until the end of your life.

An unexpected inheritance is not unusual, in fact there is a famous story in Essex regarding a man who cared for an elderly neighbour by delivering her groceries and checking in on her. It was an act of pure kindness as the elderly neighbour had no known family so the man dedicated himself to help her in these small ways each week not expecting any reward other than the knowledge that he was doing a good deed. It transpired many years later upon the death of the elderly neighbour that she had left her entire estate to the kindly man, amounting to a life changing sum! Without the elderly lady having a valid Will, this particular estate would never have benefited the do-gooder!

Alternatively, perhaps there is a charity that has supported you or someone close to you, or that you have been involved with that you wish to benefit from your estate. Charitable legacies also have positive tax implications for your estate; provided that you leave at least 10% of your estate to a registered charity, the applied inheritance tax rate falls from 40% to 36%.

If you do not have a significant other in Braintree and would like to discuss making a Will, Andrew Douglas Wills and Legal Services offer a free initial consultation to discuss your wishes. Whoever you wish to leave your estate to, whether in Braintree or the surrounding areas of Essex, why not contact us today via www.andrewdouglaswills.co.uk?

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