Drawing up a will is a very important part of estate planning. By drawing up a will and making sure you review and update it when your circumstances change, you will save your loved ones unnecessary trouble on the event of your death.
Many people think that all of their assets will automatically pass to their spouse on their death, but if you don’t have a will your estate will be distributed under the UK rules of intestacy, which means the law dictates who will inherit your estate and in which proportions. If you don’t have a will:
Your spouse/civil partner and children could end up with less than you’d hoped.
People you would like to inherit your estate may not actually benefit. They may have to go to court to obtain the proceeds of your estate, which could take time and also be quite costly.
Your loved one’s inheritance may be subject to a large, unnecessary inheritance tax bill, that could have been reduced with a little planning.
Delays could occur in winding up your estate causing prolonged grief.
Your next of kin will usually be appointed as executor to sort out your estate and they may not be the best person for this often complicated job, especially during such an emotional time.
We offer a comprehensive, inexpensive will writing service. We can also help with probate.
Tax & Estate Planning
At MJC we understand the importance of tax and estate planning.
We can advise you on maximising your tax efficiency by making use of tax efficient incentives.
The taxation of an estate is a complex yet fundamental issue for many taxpayers. Tax can be levied not only during the lifetime of the taxpayer but also on death.
Whether you are an individual tax payer, trustee or executor, our expert advice can help minimise the amount of tax you need to pay.
Our range of tax and estate planning services include:
Capital Gains Tax
Self Assessment Tax Returns