Is it time to check your Will and make sure your affairs are in order?

The last thing that anyone wants to do is leave their loved ones with a mess to unravel when they die. Making a Will is just the first step in ensuring that this is not the case, and the New Year is a good time to get it sorted.

We would recommend that you regularly review your Will, particularly if your personal or financial situation has changed, to check that it still meets your wishes. These changes can include things like:

• have you or a beneficiary recently got married or divorced?
• has your family welcomed any additional children or grandchildren – do you need to appoint guardians?
• have you been lucky enough to win the lottery?
• have you received an inheritance?
• are the people you have chosen as executors still appropriate?

It is also important to ensure that your Will continues to be as tax efficient as possible after any budgetary changes, such as the recent restrictions which are being introduced in relation to agricultural property relief and business property relief.

Well-organised paperwork/financial records can help smooth the probate process, with assets and liabilities being clearly identifiable. This, along with frank conversations surrounding your funeral wishes, can all ease the burden on your loved ones.

Something that is becoming more prevalent in today’s society, is the need to consider what happens with your digital assets once you have died. Things such as your social media presence and the photos saved in the cloud, all hold precious memories that your loved ones may wish to locate and preserve for future generations. Or it may be that you hold bitcoin that needs to be dealt with. While you can sometimes nominate who can memorialise your social media accounts, a clause in your Will authorising your executors to take control of them and any other digital assets can be invaluable.

Speak to our Lifetime Planning team today

At Ashtons Legal, we can help you review and, if necessary, update your Will. We can also provide advice on any other legal documents, including Lasting Powers of Attorney. We currently offer free and secure storage so that all your documents are in one place.

If you have any questions about anything in the above article, get in contact with our specialist Lifetime Planning team using our online enquiry form or by calling 0330 404 0778.