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Wills & Trusts
It is a shocking fact that about 70% of the UK population has not made a Will!
It is a further shocking fact that many of those who HAVE made a Will still have not
protected their wealth properly to ensure their beneficiaries not only get ALL that
was bequeathed to them but also that this wealth “passed down” is safe from any
third party attack (future bankruptcy, divorce, care home fees etc).
As such, a Will written with the best of intentions can actually end up harming the
very people you care about the most.
If you are one of the 70% you probably think your “Estate” is small and/or simple and so your spouse/kids should be able to sort it out once you are gone HOWEVER YOU WOULD BE WRONG – your beneficiaries have NO rights to oversee the disbursements of your wealth after you die, that right is placed with the Courts! Just imagine the delays and in-fighting about who should get what if that happens.....and worse still, any creditor still owed money (credit card company, mortgage provider etc) can basically “hold your beneficiaries to ransom” to get what they want before they agree to let you disburse the rest......all because you did not do something as simple as Writing a Will.
For those of you that have had the foresight to do so, did you go a stage further and ensure that anything you passed down to your beneficiaries was “protected”? You may think that their lives will be instantly better because you have given them more wealth however this could easily be more money they could then lose. If they get divorced their partner could take half of what you have left your beneficiary even though you only really wanted to give the money to your beneficiary.
What about if your beneficiary gets into financial trouble and loses all the money you gave them? To protect against these risks you can simply set up a “Trust” in conjunction with your Will and all these worries can go away. Trusts are simple to set up and much cheaper than you might think!
If you would like to arrange a Will and/or Trust meeting or find out more about this service, simply click on the link below and complete the quick enquiry form or email us at enquiries@princewealth.co.uk and we will be in touch.