Do you want your loved ones to pay the taxman as much as £103,000 more than they need to after you die?
This is what almost happened to a client of mine recently. He tried to execute the administration of a relative’s will himself to save money. He’d calculated the inheritance tax bill for their estate as £263,000, but realised he was a bit out of his depth and called on me. I managed to get the tax bill down to what it should have been, saving him and his family £103,000.
I’m Daniel Torres, one of the Co-Founders of Wright Wills, the estate planning and will writing service. We help your loved ones get exactly what you want them to receive after you’re gone.
To help you do this we’ve created a free toolkit called ‘Five Questions You Need to Answer When Writing a Will’. This explains some of the key areas that a good will writer needs to cover when working with you.
You might be thinking: do I need a will writer at all? Aren’t there free services I can use? Or ones for as little as £100? Won’t those make sure my family will be properly looked after when I die?
Given the spread of these cheap services in recent years, the sad answer is that they don’t offer the protection you would want your family to have. If you have any assets worth writing a will for, like a property of almost any kind, then these ‘low-cost’ wills can potentially have a very high price.
Things that could happen:
- Your family paying tens of thousands of pounds more in inheritance tax than they could have.
- Your partner remarrying after you die and being convinced by their new spouse to cut your kids and grandkids out of their inheritance.
- Opportunistic relatives, teaming up with no-win no-fee lawyers, to take for themselves the money you wanted other loved ones to receive.
In our toolkit we give you free advice on ways to stop these tragedies from happening. We can help your family pay the lowest legal amount of inheritance tax and see that every person you love gets exactly what you wanted them to.
To get ‘Five Questions You Need to Answer When Writing a Will’ sent straight to your inbox, sign up to our mailing list by clicking here.
If you have any other questions about will writing or estate planning, please get in touch with me, Daniel Torres, on firstname.lastname@example.org.
Wright Wills, Estate Planning and Will Writing