, from our Inheritance Department, writes: “I lose count of the times I’m told ‘I don’t have anything to leave’ or ‘There’ll be nothing left after my day’. But this isn’t true. It is not only unlikely that you’ll have £0 in the bank, but also, that you’ll have no personal items, such as clothing, furniture and jewellery. Even shoes!
But more importantly, often people have pets that get forgotten about when it comes to Wills.
Did you know you can state in your Will what you want to happen to your pet? Pets are so important to people during their lifetime, so why not after death? People often forget to make provision for their pets but you can think about it in your Will.
You can specify who keeps your pet and gives them a home, give that person some money to look after your pet, and even make sure that the gift only passes if they do agree to look after it! Some people choose to contact a certain animal charity and ask them if they will assist the Executors (the people responsible for ensuring the wishes of the Will are carried out) in re-homing your pet.
It’s very rare that someone has NOTHING to leave, even if it is a pet. So have a think and make sure that your precious pet is looked after the way you would want it to be if you weren’t here any longer.
Please give me a ring if you have any questions:
Nicola Steadman 01539 721945
Published 9 June 2017
Previous article: Save on Inheritance Tax!
Next article: 10 Reasons NOT to make a will?