Bowing Out Gracefully. The Importance of Good Estate Planning in Bristol
As with most things, dealing with a death appears straightforward until you find yourself in that situation and become aware of the myriad of complications and bureaucracy which suddenly presents itself, seemingly from every direction. This article covers the importance of good death planning and how it can bypass common issues.
For the people left behind having to sort everything out, it matters hugely how much time, effort and planning went into a loved one’s preparation for death. Did they bow out gracefully with everything in order so their families could focus on grieving and supporting each other, or did they pass seemingly without considering ‘what happens next’ and thereby paving the way for arguments, family feuds, unnecessary tax bills and expense?
Good estate planning is often described as an individual’s last gift to their loved ones - and there is a sound reason for that.
What Should I Consider When Death Planning?
It is important to think about:
• How you will ensure that what you have passes to your loved ones.
• Protecting what you have whilst you are still alive so that there is something there to be shared out after your death.
• What will happen if you can no longer make your own decisions.
• How to avoid your family having to suddenly find a significant sum of money to pay for your funeral.
• Whether you will be above the inheritance tax threshold and what you can, legally, do about that.
It may seem a complex and daunting task initially but once addressed our clients typically tell us that they feel so much better, that the process was not nearly as difficult as they thought it was going to be and they can now rest assured that they have done the best thing for those most important to them.
Here at The Will Associates, we pride ourselves on doing the right thing by all of our clients. We ensure that the service offered is highly professional from start to finish and that client’s needs are prioritised throughout the process. If you would like to speak to one of our consultants in the privacy and comfort of your own home, then call us today to put your mind at rest on 0800 847 7050.