When it comes to writing Wills in Braintree, if you have already made your Will then it is clear you want to guarantee your loved ones will not suffer any financial problems when you are no longer around to help them and that they will be able to benefit by way of inheritance.
However, if you think that is the end of the matter then you would be very wrong.
The reason for this is that the failure to update your Wills in Braintree and other locations throughout Essex could actually serve to bring about as many problems and emotional traumas for those you leave behind as if you had never made a Will in the first place. By way of illustration, let us say that at the time when you decided to first write your Wills in Braintree you only had one grandchild in your family and you and your spouse specifically named them as a beneficiary of your estate. However, in the years that have followed your family has served to give you another two grandchildren which is a problem for your estate planning. This is because if you do not update your Wills in Braintree so as to also name those other grandchildren in your Wills then those other grandchildren will lose out at the time of your death which may also lead to bitterness within the family. Therefore, where the structure of your family is subject to some significant changes this should act as a trigger for you to change your Wills.
At the same time, however, the law and the state of your finances could also serve to impact upon your need to update your Wills in Braintree and other locations throughout Essex and the rest of the UK. This is because whilst the amount a single person can currently leave to other people before they will be taxed is £325,000 (£650,000 for a couple), this may be subject to change and could become significantly more restrictive. Therefore, you may need further estate planning guidance to assist you with minimising the inheritance tax that you may have to pay under the terms of your Wills in Braintree or elsewhere in Essex and the rest of the UK.
For more information, check out our website at www.andrewdouglaswills.co.uk
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