According to recent research by The Independent, there is an estimated £15 billion of unclaimed assets. The reason these assets were unclaimed? Simply because a Will could not be located.
We have always advised our clients on the importance of having a Will, the key events that should trigger creating or updating a Will and the impact not having one can have upon your loved ones.
Despite the many reasons why people tend to procrastinate this task, more people have been turning to do-it-yourself approaches, using online or retail-purchased Will templates to create them on their own. However, this approach doesn’t come with the advice and necessary next steps from an experienced professional, involving how to store the Will properly or the significance of informing others of its existence and location.
Families can be hesitant to talk about creating or discussing a Will, often due to the perceived morbidity of the topic. Even if a Will has been made and communicated to the family, its location could change and its whereabouts unknown at the most critical time. Unfortunately, this often leads to family members feeling like they have not carried out their loved one’s wishes.
We offer a secure storage option to all our clients and can even write to your executors to advise them about the location of your Will. Why go to the effort of creating a Will and for your executors and family members not be able to locate it?
For an annual fee of £20 per Will we shall securely store your Will and then any amendments or updates to the Will are conducted free of charge. (this excludes the inclusion of Trust work)
12 January 2021
The views expressed in this blog do not in any way constitute advice and are specific to the date noted. As time passes the facts can change and readers should consult their adviser for up to date advice on any matters covered within the blog. Invest Southwest offers an initial review, which is free of charge, however long it takes. From this we will be able to confirm how we can help and give you an opportunity to decide if you would like us to. Thereafter, we will provide you with detailed recommendations and exact costs. Please note that we promise not to levy any kind of fee unless we can demonstrate a benefit to you.
- How do you own your property? And why does it matter when you die?
- Vulnerable Person Trusts
- How to Leave up to £1 Million to Your Loved Ones Tax Free - a Two-part Guide: Part 2
- How to Leave up to £1 Million to Your Loved Ones Tax Free - Part One
- Adult Children and Management of Their Finances