Balfour + Manson: Will you or won’t you? New Year’s resolutions

Firstly, Happy New Year to all readers. It is that time of the year when resolutions are made, or in some cases, uttered and instantly forgotten about.

For many, the creation or updating of a Will sits fairly high on the list of things to do. It can also be one of those many things that you put off. As we begin 2024, it is strongly encouraged for everybody to have a Will. Often, individuals do not think they will need a Will. They may believe that in straightforward cases, everything will go to their spouse, but after certain limits this is not the case and children, siblings, and parents can end up inheriting more than they expected. In any event, a Will creates certainty and makes life significantly easier for your nearest and dearest when the time comes.

In addition to Wills, we offer a full review of your circumstances, including Powers of Attorney. Another document which is always recommended at any stage in life, the Power of Attorney allows you to nominate your most trusted family and friends to look after your affairs should you be unable to do so. A Power of Attorney is an insurance policy. It is better to have it and never need it, rather than need it and not have it.

We are also more than happy to discuss all aspects of inheritance tax planning, another minefield of its very own; Trusts, both during life and on death; and provide full assistance and advice in relation to Estates, whether they are straightforward, or sizeable with complex tax issues.

A Will, a Power of Attorney, Inheritance Tax Planning. They are all very important issues, and may form part of your resolutions. So the question beckons…Will you or won’t you?

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

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