Reasons to have a will

Reasons to have a Will:

Having a Will should be a priority for all adults, especially business owners.

A Will is a written legal document which outlines your wishes regarding what should happen to your estate after your death. If you do not have a Will when you pass away, the rules of intestacy will be followed, which may mean your wishes are not carried out and the process of dealing with your estate could be lengthy.

If you’re still not prioritising writing your Will, please continue reading through our 6 reasons to have a Will, where we uncover why it’s so important.

1. Control:
A Will allows you to have control over how your assets are distributed after your death.

2. Avoid Intestacy Laws
If you die without a Will, the state will decide how your assets will be distributed, which may not be in accordance with your wishes.

3. Guardianship
If you have minor children, a Will allows you to name a guardian to care for them if you die before they reach adulthood.

4. Avoid Family Disputes
Having a clear and legally binding Will can help avoid family disputes that may arise over the distribution of assets.

5. Peace of Mind
Having a Will can provide peace of mind, knowing that your wishes will be carried out after your death.

6. Protect Business Interests
If you own a business, a Will can help protect your business interests and ensure a smooth transition of ownership.

If you don’t yet have a Will or you’ve had a significant life event since your last Will was written and you’d like to speak with a Will Writer, please contact us and we will happily introduce you to one of our trusted partners.

When should you review your Will?
Broadly speaking, if you experience a significant life event, then it’s a good idea to review your Will. A significant life event could typically be:

If you have any questions relating to writing a Will or planning for Inheritance Tax, please don’t hesitate to contact us.

Don’t just take our word for it, hear what our clients have to say….

“I have been a client of Barnett Ravenscroft for several years. I made the switch for both my company and personal tax/accounting affairs as a result of having “shared” mutual clients with Barnett Ravenscroft and my then accountants having been subsumed into a larger impersonal practice. I have found all the Partners & staff at Barnett Ravenscroft to be knowledgeable, professional, friendly and approachable. I am very pleased with the services provided by Richard and his colleagues.”

John Soden, Director J55 Consult Ltd

“I have worked with Barnett Ravenscroft for a large number of years now, and I am actually the second generation in my family to use this excellent accountancy firm. Being large enough as a company to deal with the big stuff, they have not lost the small company attitude, which means they truly support their customers with a friendly personal service. Unlike other companies, they come up with support you need, without you actually asking, which has proved to be  invaluable to a busy company owner like myself.  Through the pandemic, the information they have provided has been incredibly useful to my company, and I would class them as second to none.”

Mark Bennett, Company Director of Caramba Marketing Ltd

“I have used Barnett Ravenscroft for over 23 years now and have always found them to be first rate. They are quick, efficient and nice people to deal with.

Ben and his team have been exceptional recently in the assistance given to obtain a CBIL loan during the Corona pandemic. Thank you again for all your help.”

Guy Widman, Managing Director of Journey the World Ltd

If you would like to discuss our “6 reasons to have a Will” article, please do not hesitate to get in touch.