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  • Coast to Coast Financial Services Limited
    42 Cheyne Walk
    Hornsea, East Yorkshire
    HU18 1BX
    Tel: 07836 620 305
    Fax: 01964 537 497
    tony@ctocfinancial.com
    Wills

    A professionally drafted Will is not expensive, and it’s the best way to prevent unnecessary stress, anguish and family rifts after your death. A Will gives you and your family invaluable benefits, absolute reassurance, confidence and peace of mind.

    Here are SIX excellent reasons why you should make a Will:

    You can choose who will inherit your property, your money and your possessions and can also prevent disagreements.
    Throughout our lives we all accumulate possessions and usually a certain amount of money and property too. On death this package of assets is known as an estate. If you die without making a Will, the law will decide what happens to your estate. Arrangements or agreements (for example with your spouse, daughter brother or best friend) to share out the estate after your death have no weight in law. And commonly held beliefs that a spouse or common law partner will automatically inherit are simply incorrect and can cause real heartache. A Will is the only way to choose exactly how your estate should be divided. Making a Will can also prevents disagreements or arguments between relatives
    You can appoint guardians for young children.
    It’s difficult but essential to face the possibility that young children could be left without parents to care for them. However, it’s even less pleasant to consider the consequences of not making these important plans. Who would you want to look after your children if you were to die? If you don’t decide, the local authorities and courts will decide for you. Their idea of the best carer for your children may be very different from yours. Be aware too that an unmarried father does not automatically become guardian to his own children. A Will ensures that your children will be cared for as you choose in the event of your early death.
    You can save tax after you die
    Inheritance tax is the duty payable on what you leave behind when you die. No one wants to pay more than their fair share to the tax man, so a Will ensures that your estate is as tax efficient as possible. Saving unnecessary tax leaves more money to be shared as you wish you may even avoid paying inheritance tax altogether with the correct planning.
    You can establish Trusts to protect young ones or less able beneficiaries.
    Trusts are a helpful way of protecting young or immature heirs: they guard inheritances until children are old enough to make informed decisions about their money. Trusts also allow you to plan financial provision for learning-disabled children.
    You can plan for the care of family pets or leave money to charity.
    Treasured family pets can be provided for in your Will. You can appoint carers or make a legacy to meet their needs. Your Will may include tax free bequests to your favourite charity
    You can protect the value of your home.
    Sadly we hear all too often of cases where the value of the house has been used to pay for residential care fees, leaving nothing for the family. This can have a far more crippling effect on your estate than inheritance tax. Any surviving spouse or partner could change their Will, after remarriage, to disinherit your children. Correctly drafting your Will to include property trusts can alleviate these problems and also protect the value of your home for your children if it’s your wish for them to inherit.

    Will writing is not part of the OpenWork offering and is offered in our own right. Openwork Limited accepts no responsibility for this aspect of our business. Will Writing is not regulated by the Financial Conduct Authority.