As the often quoted saying tell us: “In this world nothing can be said to be certain, except death and taxes.”
There are steps we can take to ensure that we do not pay more tax than we need to. However, when it comes to making a Will, many people put off sorting out their affairs, either because they are uncomfortable with thinking about their own mortality or because ‘there’s always tomorrow.’
Putting in place a Will is extremely important. It allows you to decide how your estate will be divided after your death. You can specify who gets money or specific items of your estate. It also means that it creates a lot less hassle for the loved ones you leave behind as dying intestate (without a valid Will in place) creates a lot of paperwork, red tape, delays, uncertainty and unnecessary costs.
When it comes to financial planning, a Will can make sure that you do not pay more Inheritance Tax than you need to and that your estate can be wound up in a faster and more economical way.
At MT Financial Management, we can introduce you to expert advice to ensure that your Will is set up in such a way that your relatives are properly looked after and taxes are mitigated, leaving you with peace of mind, knowing that your affairs are in order.
Please note that Wills and probate planning are not regulated by the Financial Conduct Authority, which is why we will always introduce you to a suitably qualified solicitor for these services.