Making a will – your New Year’s resolution for 2010!

Without a doubt, 2009 has been a difficult year for many.

There have been many high profile and surprising victims of the credit crunch (who would have imagined Woolworths would go?) and the news has been dominated by job losses and economic uncertainty.

But as the year draws to a close, it's time to look forward and hope for a brighter 2010.

As the past year has proven, some things can't be planned for, but getting your personal affairs in order is one New Year's resolution you'd be well advised to keep - as it can help prevent nasty surprises later down the line.

Take wills for example. By ensuring yours is up-to-date you can plan your affairs to minimise your inheritance tax liabilities, appoint guardians for your children and determine exactly who will inherit what. It's not costly and it’s simple to do.

Without a will, the consequences can be heartbreaking, as recently evidenced by the case of actor Peter Sellers whose children were left with nothing after the entirety of his £4.5 million estate went to his estranged fourth wife whom he tried to cut out.

In reality, getting your estate in order is a resolution you should come back to each and every year.

It's amazing how much difference a year can make - babies being born, people getting divorced, buying or selling a house are all life-changing events that can leave prior legal arrangements outdated.

In addition, the law changes regularly so it's important to make sure you keep up to speed lest modifications make prior planning disadvantageous.

We advise people to take time in January to do a bit of research and contact a reputable solicitor - preferably one that has been awarded the Lexcel quality accreditation - for advice.

Rutherfords is currently offering an initial one hour fixed fee consultation.