Will Planning - Why you need a will?
A will is to ensure that your belongings go to your loved ones.
Making a will means that you have full control of your estate. You decide who inherits what and when. 

76% of people in the UK either have no will or have not updated their will in the last couple of years. Without a will you cannot be sure of who will inherit your belongings and the law can have some nasty surprises:

• If you are not married (or in a civil partnership) your partner will get nothing. 
• If there is no executor you will have to wait until the court appoints one.
• Administration of your estate could take longer and will cost a lot more.
• No gifts can be made to family or charities.

People often delay making their will until it is too late. Illness or worse can strike at any time.

What happens if you die without a will in Scotland?
The law states that your estate must be divided in a specific way. This is unlikely to reflect your own specific circumstances and can lead to confusion, disagreement and delays. For example, a surviving spouse will not necessarily inherit your entire estate. Some of this could be claimed by siblings, children or even your parents.

Benefits of having a will
A will is to ensure that those, and only those, that you want to benefit after you die receive those benefits, as you intended. With a will, your estate can be distributed to your chosen beneficiaries sooner and with fewer costs. A properly drafted will should ensure that family disputes are avoided. You can decide who is to look after your children, should you die.

Is your will adequate and up to date?
Once a will in in place people tend to forget about it. It is possibly one of the most important documents you will ever write and as such, should be reviewed regularly. As your life changes, so should your will. This is to keep up with your changing family circumstances.

Some questions to consider are:
• Do you have a guardian named to look after your children?
• Have you accounted for specific items to go to any individual?
• Does your will take into account any future inheritance that you may receive?
• Have any grandchildren been included to benefit?

If your circumstances have changed or you have a poorly drafted will, it can cost time and money when you are no longer here to help sort things out.

The service we provide
We are professional will writers registered with the Society of Will Writers. We offer a free review service to ensure that your will is kept up to date and that it takes into account your changing circumstances. This provides you with the security of knowing that our service is trustworthy and that our advice is accurate and up to date with any legislative changes.

We specialise in estate planning which includes the professional preparation of wills and Powers of Attorney as well as advice on inheritance tax and planning for your long-term care.

We are not solicitors but specialist will writers who take the time to meet you at a place of your choosing. At My Will (Scotland) Ltd we offer a free consultation service without obligation.

Power of Attorney

What happens if you don’t have one
Should you become unable to manage your own affairs your family may have to apply for a Guardianship order through the courts. This can take up to 6 months to arrange and could cost in the region of £3500. Much like not having a will, the court would then decide who would control your affairs. The Guardianship order must also be reviewed by the court every 3 years which can add considerably to the expense.

Why it is needed
It is advisable for you to take control and nominate a trusted person to manage your affairs, should you become unable to do so yourself. A Power of Attorney is a legal arrangement that allows someone you trust to act on your behalf and make important financial and welfare decisions for you, should the need arise.

A Power of Attorney can only be effected while you are of sound mind and at My Will (Scotland) Ltd we believe everyone should have one in place.

Reviewing your financial affairs
Included in our service is a complementary review of your financial arrangements through our sister company, Independent Advisers (Scotland) Ltd.

Planning for your future
When you’re thinking about financial planning for the future there are a number of key areas to consider that will ensure you can live comfortably in later life and that your family can cope when you are no longer around. These include:

• Inheritance Tax planning - reduce the tax paid on your estate
• Life Cover - ensure those left behind can cope with the financial pressures
• Long Term Care - ensure support is available if required
• Savings & Investments - provide a comfortable income in later years

A fundamental part of your financial security - Funeral Plan
As you think about any of the aforementioned - whilst looking for an investment for the future or perhaps after writing a Will - then taking out a Funeral Plan is your next logical step.

In the same way that you’d select from those ‘protection products’ to safeguard the finances of you and your family, a funeral plan should be considered an essential part of your future planning. Not only does it protect against rising funeral cots but it also works alongside your other investments to give you real peace of mind. In these uncertain times it represents a sound investment.

Independent Advisers (Scotland) Ltd.
The firm is proud of its reputation developed over the last 10 years. They offer a choice of independent financial advice services to suit their clients’ needs. Their client relationships are based on trust, expertise, service and professionalism. They provide an ongoing review service to ensure that your financial plans remain best suited to your needs as your circumstances change with time.

The next step
Arrange a confidential meeting without obligation.

My Will (Scotland) Ltd.
81 St Vincent Street
Glasgow
G2 5TF

Tel: 0141 285 7138

Consultants:
Nadeen Watson – 07870 842 063
Paul McFadyen – 07775 612 240