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No-one wants to consider their demise but, sadly, death comes to us all and it’s vitally important that your ‘life admin’ is up-to-date and a Will is in place.  

Why have a Will? It’s the only way of ensuring that the people you choose benefit from your estate. It can also reduce the costs and time required to deal with your estate.

If you don’t have a Will? Then the default Scots law rules of intestacy will apply. Who inherits depends on the family you leave behind. Very generally, any spouse/ civil partner will rank first and any children thereafter. The amount each inherits depends on the value and make up of your estate. If you have no spouse/civil partner or children, then parents, siblings and wider family join the mix. If there’s no surviving family, your assets pass to the Crown.

So you have a Will? Great. How often should you be updating it? Essentially whenever your wishes or circumstances change. If you’ve recently married, divorced, had a child, or even if you’ve won the lottery, it’s important these changes are reflected in your Will. Smaller changes don’t always require a new Will, instead we can prepare something called a Codicil.

It might seem easier to put this to the bottom of your ‘to do’ pile but at Balfour + Manson we make setting up your Will stress-free. So, get in touch today.

6 Albyn Terrace, Aberdeen, AB10 1YP
Tel: 01224 498080

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