Coronavirus: Is now the right time to create or update your Will?

March 20, 2020

The world-wide COVID-19 (Coronavirus) outbreak has everyone thinking about what might happen if the disease spreads more fully and rapidly across the general population. Despite best efforts to contain the outbreak, people in lots of countries around the world have contracted Coronavirus. That highlights the need for people to plan for whatever could possibly happen.

Nobody likes to think about their own mortality, and that’s why so many people gloss over or forget to create a Will. Coronavirus is a reason to take action now and get your affairs in order. To protect yourself and your loved ones, you need to get these updated and prepared NOW.

Will Creation or Will Update

Ensuring that your assets will pass to the loved ones you want to receive them after your death is crucial during crisis times. You don’t want to make things any more difficult than they need to be. Even if you do have a Will, review it just in case and make sure everything is up to date and check that it is still how you want things to be. You may need to make provision for new family members like children or grandchildren? You may have more or less assets that you need to consider in your estate and that can affect the level of inheritance tax you will need to pay if not considered carefully. Also, if you are not married but in a relationship, the intestacy rules do not cover this scenario and your partner may potentially lose out.

A phone call and or a telephone conference with our Wills team at Tayntons can put your mind at ease to check through these vital points. Call us on 01452 222445 to make an appointment.