'Ask the Expert' featuring Richard Lane

Richard Lane, Solicitor at Hunt & Coombs, features in the October edition of the Cambridgeshire Chambers of Commerce Magazine 'Connected'.

Some people are reluctant to make a Will, either because they do not like contemplating their own death or because they think it is something that they can put off until they are older.

Richard Lane highlights in this article some common excuses why some people postpone making a will.

‘Everything will go to my husband/wife/civil partner anyway’
Rarely this is the case and even so, is it appropriate? What if you have a business? What if you are not married? What if you and your partner die at the same time? Do you want the Government to decide what happens to your estate - is it worth the gamble?

‘I do not have anything to leave’
You may not think you have any assets right now, but parents should at the very least make a Will to choose a guardian for their children otherwise the Local Authority may decide. Similarly, if you are running a business, a Will can help your business to continue after your death to protect it for your family. Do you have Death in Service Benefits from your work?

‘I can do it myself’
You can make your own Will but there are many things which you can do yourself: education, car maintenance, surgery, dentistry but unless you know what you are doing it is best to leave it in the hands of qualified professionals.

‘It is expensive to make a Will’
Charges may be less than you think and, if using a solicitor, you should be told the charge, before you proceed. The cost of a Will is likely to be much less than the costs of trying to resolve problems later. There may be Inheritance Tax savings which can be made – many people are unaware of their potential liability for Inheritance Tax and the simple measures which can reduce or, even, extinguish this.

Follow this link to read more of the October edition of ‘Connected Magazine’ by the Cambridgeshire Chambers of Commerce.

If you are contemplating making a Will then contact a member of our Wills, Trusts and Probate team to make an appointment. You can do this by phone 01733 882800, or email info@hcsolicitors.co.uk

For more information visit the Wills section of our website.

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This article has been prepared for general interest and information purposes only; it does not constitute legal advice and should not be relied on as such. While all possible care has been taken in the preparation of this article, no responsibility for the accuracy and/or correctness of the information and commentary set out in the article, or for any consequences of relying on it, is assumed or accepted by the firm or the authors.