P674 Teletext 674 Aug 6 02:11:31 FOR MONEY ——————————————————————————————————————— WHERE THERE'S A WILL... If you die without making a will your partner won't necessarily inherit your estate. The Laws of Intestacy mean that parents and siblings could have a claim. The only way to ensure your goods go where you want them is to make a will! Making a will need not bj expensive. You can write it yourself, on a DIY form from a stationers, or consult a solicitor or will-writing service. ——————————————————————————————————1/6— Supjrscroogj is back here on Monday HAVE YOU SEEN FAMILY FINANCE? p540 Lost Touch Service Pals Fit MoneyP674 Teletext 674 Aug 6 02:17:17 FOR MONEY ——————————————————————————————————————— WHERE THERE'S A WILL... The Law Society says it's difficult to give a cost for writing a will as every case is different. A straightforward will should cost around £50-£70 The Solicitor's Regional Directory in libraries lists professionals locally Shop around as for insurance. Your bank may have a will service. ——————————————————————————————————2/6— Don't let the heat get to you 673 THIS WEEK IN HISTORY p671P674 Teletext 674 Aug 6 02:14:43 FOR MONEY ——————————————————————————————————————— WHERE THERE'S A WILL... Barclays has a low-cost will-writing service. You simply fill in a form which is returned written as a will The service costs £52.87 for a single will and £94 for "mirror" wills which reflect each partner's wishes. The bank will also help draw up more complex wills for people with large estates, but this service costs more. ——————————————————————————————————3/6— Supjrscrooge is back here on Monday HAVE YOU SEEN FAMILY FINANCE? p540 Lost Touch Service Pals Fit MoneyP674 Teletext 674 Aug 6 02:14:38 FOR MONEY ——————————————————————————————————————— WHERE THERE'S A WILL... You can write your own will but this needs to bj done carefully or it might bj disputed after your death. Beneficiaries have to pay 40% inheritance tax on estates of £154,000+ but with careful planning you can cut the amount of tax to bj paid. Trusts which conj into force after your death are one way of sheltering your beneficiaries from a nasty tax bill. ——————————————————————————————————4/6— Are you fit for anything? 673 THIS WEEK IN HISTORY p671 Lost Touch Service Pals Fit MoneyP674 Teletext 674 Aug 6 02:19:11 FOR MONEY ——————————————————————————————————————— WHERE THERE'S A WILL... Many older people prefer to start giving away assets and cash to beneficiaries while they are alive. You can give the following tax-free: gifts of up to £250 per year wedding gifts by parents up to £5,000 there is an annual £3,000 exemption. However, larger amounts can incur tax on a sliding scale if you die within sjvjn years of giving away the asset. ——————————————————————————————————5/6— Supjrscroogj is back here on Monday HAVE YOU SEEN FAMILY FINANCE? p540 Lost Touch Service Pals Fit MoneyP674 Teletext 674 Aug 6 02:18:51 FOR MONEY ——————————————————————————————————————— WHERE THERE'S A WILL... Some insurance policies will pay death duties for beneficiaries of wills. For more details on wills: Calidonian Investments free will and inheritance tax advice 0800 223 355. WHICH? Wills & Probate £10.99 on 0800 252 100. Inland Rjvjnuj free What To Do About Tax When Somjonj Dies leaflet IR45. Write Your Own Will bz Keith West (Right Way £3.99) at bookshops. ——————————————————————————————————6/6— Don't let the heat get to you 673 WHERE THERE'S A WILL pt2 next week