Wills and Estate Planning to Protect Your Family

Posted by Tony Rochester on May 1st, 2018

Estate planning and last wills are all about taking care of and protecting your family’s future. It allows you to decide well in advance whom you want to take charge of or receive your wealth and assets after death. Planning and deciding how to distribute your wealth not only keeps you in control of all that you’ve worked and fought for to achieve—it can also prevent or at least minimise squabbles among members of your family. Estate planning, contrary to what many believe, isn’t just for the rich and famous. It is for anyone and everyone wanting to make sure that their loved ones are provided for when the unthinkable happens. How else do last wills and estate plans protect your family? Below are some of the major benefits of planning ahead:

• Warring families usually trace their history back to the death of the household’s major pillar. Rifts and squabbles within the family can very easily be prevented with a last will. Good estate planning will keep your family from having to argue about how to take charge of your real estate, financial wealth, and other assets and take matters to court. It allows you to define your terms and choose exactly whom to put in control of your assets.
• When a person dies, their estate goes through a probate process, which involves the settlement and distribution of the assets according to the terms of the will. This can be a lengthy and costly procedure that may leave your beneficiaries with less than what you intended. Estate planning helps you find more strategic ways to distribute your assets and avoid courtco-ordinated probates.
• It allows quicker transfer of property and reduced taxes. Estate planning helps prevent huge delays in the transfer of properties, which often puts agreat financial strain on surviving families. By setting up trusts as part of the will, you can ease the tax burden on your heirs.

About the Author
The article has been written by Tony Rochester, the estate planning advisor of MVL Wills and Trusts. A professional estate planning company based in Battle, East Sussex.We are an official partner of Countrywide Tax & Trust Corporation Ltd, an estate planning specialist with many years of experience in preparing Wills and Trusts.We serve East Sussex and Kent, including Hastings, Bexhill, Rye, Eastbourne, Tunbridge Wells and the surrounding areas.