Page 58 • The HERALD • 9th May 2024 v THE NEXT HERALD IS OUT ON 30TH MAY v ASK A PROFESSIONAL YATES & CO Chartered Accountants Specialists in providing accounting and taxation advice to small businesses and individuals Contact: Colin Yates A.C.A. Telephone: (023) 8086 1550 E-mail: enquiries@yatesco.co.uk Personal and Friendly Service Things to Consider Before Writing your Will by Heritage Will Writing Writing your Will can be a daunting prospect for many people and one that o en gets “put o ”, as a result. Unfortunately, it’s also one of the most important things you should address in life, particularly, once you get married, have children, or start to accumulate assets of any value. We’ve found that people o en procrastinate over writing their Will because they don’t really understand what’s involved or how to go about it, so, here are a few things you need to consider that will help get you started. Whilst this article covers some of the basics, a more detailed explanation can be found by visiting www. heritagewillwriting.co.uk. Writing your Will – e Basics • You will need to appoint Executors- these are the people that will carry out the instructions in your Will. you can appoint up to four Executors, but it’s wise to appoint at least two. e Executors can also be Bene ciaries under the Will • If you have children who are under the age of 18, you’ll need to appoint Guardians. is allows you to decide who should be responsible for your children’s welfare. Guardians may also be Executors • You may wish to include a clause detailing who will take your pets, if you have any • If any assets are placed in Trust under the Will, you’ll also need to appoint Trustees. ese are the people who will look a er any assets placed in Trust • You should include any speci c instructions you have regarding your funeral arrangements. For example, do you wish to be cremated or buried? Are there any speci c requests about the Funeral Ceremony or arrangements? • You don’t need to list everything that you own in your Estate, but you do need to consider any speci c gi s that you wish to make in your Will. ese gi s will cover those personal possessions that you wish to go to speci c people - items of jewellery, for example. ese gi s may also include smaller amounts of money le to speci c people or organisations, i.e. charitable donations • Who do you want the residue of your Estate to go to? e residue of your Estate is everything le a er any speci c gi s (if any) and a er payment of all debts, taxes and expenses. You don’t need to itemise the residue, you can simply decide what portion each bene ciary is to receive, if you are naming more than one • What would happen if? is is a question you should also ask. For example, what would happen if a bene ciary were to pass away before you do? You may wish to consider appointing reserve bene ciaries to ensure that your estate goes to the right people • If in doubt, always seek professional advice If you need any help or advice in relation to writing your Will, please contact us on 023 8087 9243 or email: info@heritagewillwriting.co.uk New Forest District Council’s Business Boost 2024 programme is delivered by the University of Portsmouth’s Business School. It will provide you with the tools you need to help your New Forest business improve its productivity and resilience, leading to e ciency savings and growth. Portsmouth University’s industry-practitioners deliver the topics through a combination of workshop sessions and one-to-one mentoring to make the content relevant to your individual business context and to work on your speci c business issues. Business Boost will give you access to: • Workshops following a key topic/subject theme. • Opportunities to discuss aspects of the content relevant to the group and see how your business peers are seeking to action insights from the course. • 1:1 con dential business mentoring to make the course content precisely relevant to your individual business context and to work on speci c business issues, leading to... • A personal action plan for you to make immediate positive improvements to your business. anks to funding from the government’s UK Shared Prosperity Fund, there is no cost for participating businesses, only a commitment to attend at least nine hours of learning, via any combination of workshops and one-to-one sessions, over the two months of the programme. ere are two course venues, with di erent starting dates, one in Totton starting on 14th May and one in Ringwood starting in October. ere are a limited number of places on this free programme so early registration is recommended. For more information or to register your interest please visit: sites.google.com/port.ac.uk/business-boost-new-forest Boost Your Business For Free
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