A basic component of financial planning is estate planning and the most important feature is to ensure valid and updated wills are kept under review. This is the only way to ensure your wealth passes either to loved ones or in the direction you would like. If you die without having a valid will you are said to have died “intestate” and the legal system has very strict rules on how your money and wealth (known as your estate) will be distributed.
Where you have a valid will
Easy, the estate is usually distributed in accordance with your wishes.
Where you don’t have a will
Not so easy, the government has provided a calculator and you can find it here: https://www.gov.uk/inherits-someone-dies-without-will
At Financial Fortress we take estate planning very seriously and whilst we don’t offer a will writing service ourselves, your adviser will help you decide what you would like to happen, explaining all the pro’s and con’s allowing an informed decision.
We can then either work with your own legal adviser to formulate your will or refer you to a trusted and local solicitor.
We like to ensure our clients look after their affairs holistically, meaning although we don’t advise on some areas, we still recommend they are reviewed regularly with plans put in place. We do not advise on WILLS / POA’s ourselves and so any advice in these areas are not regulated by the Financial Conduct Authority (FCA).
Instead, most legal services are regulated by the Solicitors Regulation Authority and you can check whether a firm is authorised by checking their register here: https://www.sra.org.uk/consumers/register/
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