The Importance of Making a Will When You Have a QROPS Pension

There are many good reasons for having a legal document that will protect your possessions and provide for those you love. This is even truer when you have a QROPS pension. You don’t need to have made any big financial investments to use a will writing service. How little or how much you possess makes no difference.

A will is a legal account of your intentions about who should benefit from your estate. It’s important to have a will if you want anything to be passed on to your partner, your children, close relatives or friends. Without one, you have no say in what will happen to your possessions, property and any money you have saved up.

There are legal requirements for the allocation of personal and financial assets where no will has been made. In the case of an unmarried person living with a partner, or without entering a civil partnership, the death of one partner could leave the surviving partner without a home or unable to keep items of sentimental value.

By using a will writing service, you can ensure that you will provide for any dependent children if either parent were to die, even if you are divorced or separated at the time, and even when you have a Qualifying Recognised Overseas Pension Scheme.

You need to have an up-to-date will to cover any change in circumstances. If you are now married or in a civil partnership, this could mean that any previous will you have made is no longer valid. If you are recently separated or are newly divorced, that is also a good time to contact a will writing service and have them make you a new will.

There are also some possible tax benefits for your beneficiaries by using a will writing service to set out your requirements. The amount of tax they pay, on inheriting your estate, could be reduced by making the right provisions in your will.

What to Include in a Will

Knowing what you want to include in a will can save you money on legal costs. It will also be much quicker to complete when you approach a will writing service after considering all the major points.

Make a list everything that is of value. This should include your property and personal possessions, life insurance, any money in a bank or building society account, a personal pension or occupational pension and any other investments.

You also need to decide exactly who you want to name as your beneficiaries. This means that you should have a list ready to give to a will writing service, naming everyone that you have decide should receive a share of your money or possessions. You might also want to name a good cause or charity.

If you have any dependents below the age of 18, you need to specify who is to take care of your child or children, in the event of your death before they have reached that age.

In order that a will writing service can complete the document for you, it will be necessary to inform them who you want to act as executors for you will. These are the people or person that you want to act on your behalf in seeing that everything is carried out according to the terms of your will.