GIFTS IN WILLS
Chris Fooks has worked in the financial services industry for nearly 20 years and is the founder member and director of Lacuna Will and Legacy Planning. He is a father of 4 and also enjoys playing and singing guitar. Chris thinks he should have been a rock star, his wife and children think differently. He strongly believes in the service to his fellow man and that the noblest art of all is making other people happy.
Happy Days Ambassador Chris Fooks talks Legacy Planning...
I often get told that my role as Legacy Planner must be one of the hardest jobs in the world. It really isn’t. As in everything in life if it is your passion it stops becoming work and becomes a way of life.
Death still remains to be a taboo subject and people avoid talking about it. Whether that’s discussing what they want to happen when they die with their family, or speaking to a professional (such as a Financial Adviser or Will Writer) about plans to protect their legacy when the time comes. People typically still find talking about death uncomfortable and struggle to bring it up as a topic of conversation. Almost 60% of people do not have a Will in place, which makes you wonder whether that is due to this stigma surrounding death.
Having a will is arguably one of the most important things you can do for yourself and your family.
Not only can a will legally protect your spouse, children, and assets, it can also spell out exactly how you would like things handled after you have passed on.
While each person’s situation varies, here are some strong reasons why you should have a Will in place.
You decide how your estate will be distributed. any family fights about your estate that may arise, and also determines the “who, what, and when” of your estate.
You decide who will take care of your minor children.
To avoid a lengthy probate process.
Minimize estate taxes.
You decide who will wind up the affairs of your estate.
You can disinherit individuals who would otherwise stand to inherit.
Make gifts and donations.
Avoid greater legal challenges.
Because you can change your mind if your life circumstances change.
There are many more reasons to have a will, but it can be overwhelming to actually draft a will. You can contact an Estate Planner who can help you craft your wishes into a legal document.
Christopher T. Fooks Cert II (MP)
Holistic Legacy Advisor & Ambassador for Happy Days Children's Charity
Founder and Director of Lacuna Wills
Head Office: Lacuna Wills, 4-6 Spicer Street, St Albans, Hertfordshire, AL3 4PQ
Regional Office: Lacuna Wills, 1 Fallow Road, Helston, TR13 8WH