We at Agri Advisor take the view that Wills are not just for the elderly and their importance cannot be understated. Recent studies have revealed that around two thirds of adults have not made a Will and, worryingly, around a third of us will die without a Will ie intestate.
Dying intestate means that you lose control over who inherits your assets after your days. The Intestacy Rules provide for effectively a pecking order of those who are eligible, and which starts with the surviving spouse and then children and so on, ending with the Duchy of Cornwall. Depending on the value of your estate however, and how the deeds in land and property are held by you, it could mean that your estate does not pass entirely to your surviving spouse, but that your children also receive a percentage share. It may also mean that a distant relative may inherit your estate whereas you would perhaps have not appreciated this. It is important therefore that this is not left to chance and that you ensure that your assets are dealt with in a Will and you retain the control as to who inherits them after your days.
A Will is an important document for us all. Whether we are a young adult, parent, business owner, married/second marriage, civil partners, suffering ill health and/or in our senior years.
Writing a Will can save your loved ones the emotional distress and costs of dealing with your estate should it become contested.
We feel that it is important to look at succession planning as a process as opposed to a one off event and often requires both an holistic and pragmatic review of your personal and business assets, your aims and objectives for the future and what resources will need to be put in place to achieve them.
As regards sole traders, partnerships and businesses we would look at the business structure giving consideration to tax implications and the wishes of those around you enabling you to ensure you have in place what you need so as to ensure compliance of your wishes, during lifetime and after your days. Our approach to succession planning considers the practical and the legal implications for you, your loved ones and your business and we are keen to work as part of a team of trusted advisors and experts to achieve your goals.
To quote C.S. Lewis:
“You can’t go back and change the beginning, but you can start where you are and change the ending.”
Please give us a call to arrange mutually convenient meeting to discuss further and which can be arranged via an office appointment, telephone appointment, video appointment or home visit.