Writing a will ‘will save time and money’

Posted 31/08/2009

A financial expert has advised consumers that writing wills should be considered an essential part of their future estate planning.

Steven Forbes, managing director at financial adviser Alan Steel Asset Management, has warned that arranging a will could be essential to avoid being hit by rising rates of inheritance tax.

He cautioned that the complexity of administrative law can also make it difficult to establish who the beneficiaries of an intestate person’s death should be, particularly when regional legal variations are considered.

Mr Forbes also expressed confusion at the level of superstition and complacency that continues to surround the signing of a will, suggesting that the documents were essential to guarantee that estates pass into the right hands.

He said: “My advice to anyone, irrespective of their wealth is to get a will in place and keep it simple, because this will save a great deal of time and money.”

This comes after St Richard’s Hospice in Worcestershire last month told the Droitwich Advertiser that it was essential for Britons to take out wills to prevent their property falling to the state after their deaths.