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The deVere Group are committed to assisting our clients in every part of their financial planning. One of the most important parts of that process is family protection and estate planning. In light of the current circumstances, the deVere Group are stepping up efforts to ensure all clients are able to protect their families from the uncertainties that lie ahead.
With that in mind, the deVere Group are currently providing all clients with UK citizenship with a free UK Will. Simply contact your advisor to get more information.
In addition, we are pleased to offer non-clients a UK Will at the heavily discounted price of £15. This offer will be available until the end of April.
Without a valid Will you cannot control who will inherit your property after your death. Should you die without a Will (intestate) your property will be distributed according to the law, which is likely to be inconsistent with your wishes.
In some cases – for those living in the UK – your estate may go to the Crown instead of the people you want to benefit. For those living in Islamic countries, your estate may be distributed as per Sharia-Law. There are case studies where this distribution system has led to husband-wife bank accounts being frozen and parents losing custody of their children.
In addition, making a Will may allow you to reduce your Inheritance Tax liability. It is particularly important if you have substantial assets which exceed the tax-free threshold. Many families find themselves forced to sell inherited property to pay for an Inheritance Tax bill. For more information on Inheritance Tax mitigation click here.
Equally important, you can determine who will administer your estate by nominating an executor. You should also name a legal guardian if you have minor children. This person will assume responsibility for your child if they are left without a surviving parent.
READ MORE: The Benefits of UK Pension Consolidation
Within your Will you can express your preferences for burial or cremation along with other funeral arrangements such as music and location. Planning for what happens to your family heirlooms and pets is a further consideration which should be included in your Will.
Planning for what happens to your remains following your passing can remove a large amount of stress for your family. One cost which is often not planned for is body repatriation, which can cost several thousand pounds. We recommend expats purchase international life insurance to cover this cost.
By making a Will you can determine precisely who will inherit your property letting your loved ones know that you have considered their needs.
For your family, the period after your death will be an extremely difficult time. By creating a Will, you are doing everything within your power to help them through it.
Don't hesitate to learn all about our recipe for success in easy steps!