Why it is important to have a will

Contacting a solicitor to draw up a will is something many people in Northern Ireland and the rest of the UK put off but this can result in unpleasant circumstances, it has been stated.

Yahoo! Finance has listed reasons why it is important for people to draw up one before it is too late and top on its list is the government could end up taking your money if clear instructions are not left behind.

A family could be left in financial ruin if one dies without a will and it may take months before unmarried partners or stepchildren get any funds left behind, which may be too late for some, the article states.

Having a will will not only make it possible to ensure the right people benefit from what is left behind, but it can also make it possible for inheritance tax to be minimised.

Unbiased.co.uk recently published research showing that many British people were ignorant when it came to inheritance tax and billions are being paid in unnecessary taxes.

Lenore Rice, Head of Family and Estates at Wilson Nesbitt solicitors, commented that "the cost for making a Will starts around the price of a night out, it isn't an onerous task and it doesn't tempt fate, therefore people should not delay and contact their solicitor."


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