At what age do you need to write a Will?
- Wills, Trusts & Probate
- 6th Dec 2021
When you should make a Will does not depend on your age, but instead, your financial and personal circumstances. As long as you are over 18, you can never be too young to write a Will.
By Stephen Attree
MLP Law
You should considering making a Will if:
· You own your own home
· You are married or cohabitating
· You are divorced
· You have children (especially if they are under the age of 18)
· You own your own business
If you die without making a Will, your estate will pass to your family as per the rules of intestacy, which may mean people inherit your estate against your wishes.
If your assets are over £325,000, or £650,000 if you are married, your estate may be liable to pay Inheritance Tax upon your death, which is the highest rate of tax in the United Kingdom at 40%. By making a Will, you can incorporate Inheritance Tax planning to protect your assets upon your death.
If you do not have a Will and would like to discuss making a Will with one of our experienced Wills, Trusts and Probate lawyers, please get in touch by phone on 0161 926 9969 or send us an email wtp@mlplaw.co.uk.
About the expert
Stephen Attree
Managing Partner
Stephen is the Owner of MLP Law and leads our Commercial, IP and Dispute Resolution teams which provide advice on all aspects of the law relating to mergers, acquisitions, financing, re-structuring, complex commercial contracts, standard trading terms, share options, shareholder and partnership agreements, commercial dispute resolution, joint venture and partnering arrangements, IT and Technology law, Intellectual Property, EU and competition law, Brexit and GDPR.
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