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Law

How Can You Safeguard Your Family’s Future When You Are Writing Your Will?

You can write a will to leave behind sentimental possessions that your loved ones can wear or keep in their house. This will include things like pieces of furniture and jewellery like diamond rings that your granddaughter can wear on her wedding day.

However, writing a will is also the best way to safeguard your family’s future. How is this possible?

You Can Leave A Trust Fund For Your Grandchildren

A trust fund is an amount of money that is given to children once they reach adulthood. It is very common for grandparents to set aside a sum of money so that their grandchildren will be taken care of. Some people will want to leave their grandchildren a set of instructions about how they should use the money once they reach the age of eighteen.

You might want to give your grandchildren free rein and let them spend the money however they please. This trust fund could help your grandchildren to buy property or to get a head start in their chosen career.  You can hire a lawyer to show you how to make a will in Cambridgeshire that includes a trust fund.

You Can Leave A Luxury Car To Your Son

You might have saved up lots of money in order to buy a luxury car in your retirement. This might have been a significant investment that you were planning on handing down to your son in the future when you have passed away.

The car might increase in value, especially if it is a vintage car. Your son will then be able to drive it for a few years before selling it on for a profit.

You Can Leave Some Paintings To Your Daughter

If you have a keen eye for art, you might have bought a number of paintings or sculptures over the years. As well as being aesthetically pleasing, the artwork might also start to increase in value over a number of years.

You can leave the artwork to your daughter in your will, which will allow her to get a lot of enjoyment from the paintings. She can have the paintings valued on a regular basis to see if they are becoming much more valuable to collectors. Once she is happy that the paintings have reached an acceptable valuation, she can sell them and use the money for buying a house.

You Can Leave Some Antique Jewellery To Your Niece

You might have a lot of jewellery that you are going to leave behind in your will. This is a very thoughtful gesture and you should take some time to consider who is going to be the beneficiary. You can leave some valuable pieces of jewellery to your niece so that she can wear them for a while. In the future, she could sell the jewellery.

You should think of creative ways to safeguard your family’s future with your will.