At what age do you need to write a Will? - MLP Law

At what age do you need to write a Will?

When you should make a Will does not depend on your age, but instead, your financial and personal circumstances. As long as you are over 18, you can never be too young to write a Will.

At what age do you need to write a Will?


When you should make a Will does not depend on your age, but instead, your financial and personal circumstances. As long as you are over 18, you can never be too young to write a Will.
 
You should considering making a Will if: 
·         You own your own home
·         You are married or cohabitating
·         You are divorced
·         You have children (especially if they are under the age of 18)
·         You own your own business
 
If you die without making a Will, your estate will pass to your family as per the rules of intestacy, which may mean people inherit your estate against your wishes.
 
If your assets are over £325,000, or £650,000 if you are married, your estate may be liable to pay Inheritance Tax upon your death, which is the highest rate of tax in the United Kingdom at 40%. By making a Will, you can incorporate Inheritance Tax planning to protect your assets upon your death.
 
If you do not have a Will and would like to discuss making a Will with one of our experienced Wills, Trusts and Probate lawyers, please get in touch by phone on 0161 926 9969 or send us an email wtp@mlplaw.co.uk.

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