wills and probate services Essex
August 4, 2017
The 21st of August marks Senior Citizens Day. This day is aimed at raising awareness about supporting the older generation as well as recognising their achievements. Here at the Bespoke Support Network we take extra care in providing support for those that need it.
To many, a will seems like a blasé task. With our lives becoming increasingly busy, this is understandable. Yet, did you know only 30% of the UK population have written a will? This figure is shocking as it is undoubtedly a necessity for securing your families future. Without one, your family can be left in dangerous territory should you pass away unexpectedly. Death is a morbid subject however it needs to be addressed. If you do not have anything in place, the state will dictate what will happen with your estate and belongings; causing a lot of drama amongst families, which can have a detrimental effect.
Having a will clearly identifies who inherits what with minimal fuss, leaving your family to remain together and grieve during this emotional time. Here at Bespoke Support Network, we understand the importance of will and estate planning. We work hard to put you in touch with experts who tailor a plan to suit you, should the unthinkable occur. This way, you can rest assured that your belongings are going to the right home.
When Do I Need to Make a Will?
Creating a will becomes more important after you have children. Setting up a will allows you to decide the final guardian of your children after you pass- this may be a family member or a good friend.
However, everyone who owns a basic level of asset, whether it be a house, or even a car should have a plan in place, otherwise, as aforementioned, it will end up with the state and, in some cases, your children may end up inheriting more than your spouse.
How Do I Put a Plan in Place?
You don’t have to spend hundreds when writing a will, you can write it yourself or confide in a lawyer depending on your circumstances. However, it is recommended that you seek advice before proceeding and make sure when you sign your will, that it is witnessed in order to make it legally valid.
If you would like more information, or advice on wills and estate planning, give Bespoke Support Network a call and we’d be more than happy put you in touch with the finest experts to help.
August 3, 2017
It’s National Son’s and Daughter’s Day on the 11th August, Protect Your Children from Sideways Disinheritance.
National Son’s and Daughter’s Day: a time to celebrate the love for your children and the time you enjoy spending with them on a day to day basis.
It’s these celebrations that highlight the importance of putting measurements into place, should the unthinkable occur.
Studies have shown that nearly 60% of adults in the UK are yet to write a will, which considering the implications, is frightening. Having no will or an outdated document can have a serious impact on your family and more importantly, your children.
Could you imagine in the event of your death that your children end up with nothing from your estate?
This is called the Sideways Disinheritance Trap, which is something you should be aware of, especially if you have remarried. There are a number of families in the UK that are defined as ‘blended families’ where both parents might not be their birth parents. This could cause problems should you leave your estate to your partner, and they then remarry after your death leaving their estate to their new partner. Your children would then be disinherited.
The question is, how do you prevent your children from being disinherited?
First things first, it’s important to draft a new will once you have remarried. This will avoid any situation where you disinherit your children. It also gives you a chance to tweak certain things and help to protect your new spouse or partner.
Another way to protect your children, would be to leave your assets in a trust. A Life Interest Trust for example, will hold your assets until you pass. You can name someone to be your ‘Life Tennant’ who will be able to live in your property and gain any income generated by your assets. Once they pass, your estate will be passed down to your children.
One other option would be to create Mirror Wills. These are identical to your partner’s, therefore no matter who passes away first, your intentions will match each other’s.
If you are concerned as to whether your children will be protected in the event of your death, then Bespoke Support Network can help. We put you in touch with trusted professionals that will provide you with the service and guidance you need. Get in touch with our team by calling 0300 303 3441 today.
May 22, 2017
Starting up a business can be a stressful and difficult time for all those involved, meaning things get lost and forgotten in the beginning. One thing that is usually overlooked during the set up is insurance for small businesses.
With over 80 companies being set up an hour, it’s important to understand that your business has different needs to the many others being started and so you will need specific insurance to cover it.
A good business insurance policy will cover your business in the event of anything going wrong and can also foot the bill for things like compensation payments and any legal costs.
Bespoke Support Network’s insurance experts have put together a list of the insurances a small business would need:
Professional Indemnity Insurance
This type of insurance covers the work you provide. For example, if you give advice or a service that customers are required to pay for, they could sue you or claim compensation if they feel using your service has cost them or they made a mistake.
Without Professional Indemnity Insurance, the expert legal support required to defend the claim against your company as well as any compensation to settle it could be expensive.
Public Liability Insurance
If you are running a home-workplace visited by the public or are visiting others on business, public liability cover could be for you. This insurance will cover you in the event someone is injured on your property and makes a claim, or if you accidentally damage a person’s property.
Launching a business these days is often tied in with technology. For example, most business will invest in buying computers, software, phones and any specialist equipment you need. If you are working from home, your new business equipment will not be covered under your home policy so be sure to have your business equipment covered.
As the founder of this brand new company, you will be the only one keeping this business afloat. In the event that you are unable to work due to injury, your income would be affected and so you should add personal accident cover to your business insurance. The insurance provider should be able to pay your wage until you recover from your injuries.
Are you starting up a new business? Bespoke Support Network Essex can find the right professionals to provide you with business advice. We have experts in all sectors; from financial planning to wills and probate services Essex.
Call our team on 0300 303 3441 to find out more about our services.