Guest Blog - The importance of making a will

Alana Graham

Alana is a private client barrister with over 18 years experience in advising clients on Wills, trusts, tax, tax planning and company matters.

Under the public access scheme Alana can advise members of the public directly without them having to first instruct a solicitor and under the professional access scheme members of other professions can instruct her directly without having to first instruct a solicitor.

Before returning to practice at the Bar, Alana worked with Arthur Andersen (accountants) and Clifford Chance (solicitors).

You can contact Alana on 0207-404-5055(office) or 07831-593965(mobile) or agraham@9stonebuildings.com (email).  Alternatively you can contact her Chamber, 9 Stone Buildings.

Why make a Will?

For many people making a Will is something you know you should do, but quite often life takes over, your to-do list has expanded and your Will still hasn’t been written. Also, many people underestimate the importance of having a Will and this blog will explain why it is so important to make clear what you want to happen to your estate in the event of your death.

Firstly, it is important to understand the implications of not making a Will. Not making a Will means that the government will decide who will get your estate; by this I mean that the laws of intestacy will apply. This means that you will have no say in who gets your estate in the event of your death and, therefore, what is decided may not be aligned with your wishes. If you are not married your partner cannot inherit if there is no Will making provision for him/her so they may face serious financial difficulties. There is also the possibility that any tax payable may be reduced if advice is taken in advance and a Will is made.

 

Making a Will puts you in control. You can decide who receives your money, jewellery and other property in the event of your death. You can, under a Will make provision for an elderly or handicapped relative. You can choose who will administer your estate (your ‘executors’) and you can choose who will look after your minor children (their ‘guardians’). But above all else by having made a Will you will have ensured that you and not the government (through the rules on intestacy) will have decided how your estate is to be shared. A Will also (hopefully) means that there will be no arguments over who gets what when you die. 

Contact details:

Alana Graham at 9 Stone Buildings, Lincoln’s Inn, London WC2A  3NN.  Tel. 0207-404-5055; Mobile: 07831-593965 or email: agraham@9stonebuildings.com Websites: www.alanagraham.co.uk and www.9stonebuildings.com