The Reality Check
The sight of an ambulance blocking a near neighbour’s drive, was a concern, as was the sight of a body being carried out on a stretcher. Barbara waited an hour before calling the house to see what had happened and whether she could offer some comfort.
The lady of the house was glad to see her, pleased to talk through the sad news that her husband had a stroke, and that although, if treated quickly, the effects of a stroke may be minimised. That normally means getting treatment within 2 hours, but the ambulance had taken 6 hours to arrive.
Too late to help her husband, who unfortunately had died. Apparently, the night before they had been discussing whether to pay out for a will, too late now obviously.
It’s a common misconception that drafting a will and carrying out estate planning is a task that can be perpetually postponed. Many of us live in a bubble of optimism, assuming that tragic events are things that happen to others, not to ourselves.
However, life has a way of presenting us with harsh realities—a neighbour’s unexpected illness or a family member’s sudden heart attack—situations that starkly remind us of our own vulnerability. Such moments serve as wake-up calls, jolting us into the recognition of the importance of having our affairs in order, particularly when it comes to drafting a will.
The Importance of a Properly Drafted Will
Drafting a will should not be carried out in a without considerable thought, it’s a process that is best served by talking though your wishes with an expert and requires careful consideration and planning.
Otherwise, you may not be aware of unforeseen consequences that can arise, complicating what you intended to be a straightforward expression of your final wishes. An expert that can help you navigate the complexities of, ensuring that your will is not only legally binding but also structured in a way that truly reflects your wishes and circumstances.
After Barbara had comforted her neighbour, she returned to her own house and thoughts. Had she made the right choice when she and her husband had drafted their will?
She had phoned around making sure they got the cheapest price, and the will that was produced reflected the price she paid. Perhaps she should get a second opinion on how effective it was. She decided to sleep on it, before deciding.
Just before dropping off to sleep, she remembered the plight of her sister Anne.
Estate Planning for Peace of Mind
Her sister had previously had an unhappy marriage, as her husband had taken to drinking after suffering a car accident. She could not cope with his unreasonable behaviour and got a divorce.
Then Anne met a very kind gentleman and lived in peace and harmony in the new relationship, until a fatal heart attack five years later.
She had failed to update her will (which left her former marital home to her ex-husband), this could have been an oversight, or possibly she felt guilty ending her marriage who, and wanted to at least ensure that her former husband kept a roof over his head.
Failure to make a new will led to her estate becoming intestate.
Had she taken proper advice over drafting a proper financial settlement and a new will, her children might then have benefitted, but as it was, they were left with nothing.
Comprehensive Estate Planning Services
The process of estate planning is more than just drafting documents; it’s about creating a legacy and ensuring the well-being of your loved ones after you’re gone. By engaging in comprehensive planning with an expert, you can avoid the pitfalls of a hastily prepared or outdated will. This approach allows for thoughtful consideration of all aspects of your estate, from guardianship of minors to the distribution of assets and beyond.
Moreover, professional guidance can shed light on strategies to protect your estate from unnecessary taxes, legal hurdles, and family disputes. It ensures that your final wishes are respected and that your loved ones are provided for in exactly the manner you intend.
In conclusion, this sad story is a poignant reminder of the importance of timely and professionally guided estate planning. It’s not merely about drafting a document but about securing the future of your loved ones and ensuring your legacy is preserved according to your wishes.
Don’t wait for a life-altering event to prompt you into action – check out how well your family is protected by viewing our free video TODAY!
Ray Best
Like his academic development, writing came late to Ray. He has written several published works, “Inheritance Tax Planning – My Way” and “Shareholder Protection & Partnership Protection” and has had four feature articles published in Tax Adviser magazine, but the publication he is most noted for is the joint collaboration with Tony Granger “Inheritance Tax Simplified”.
