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Drawing up a will is a "simple process"

Drawing up a will is a "simple process"

Not only is drawing up a will beneficial in terms of the distribution of estates, it is also simple to do.

This is according to Phil Perry, director of independent financial advisory firm Ark Financial Planning, who described the process of writing a will as a "very simple process", adding it is just "an expression of wish".

He commented: "It is really just about making sure the individual identifies the things that are most important to them and make sure that they are left in the correct way."

Mr Perry went on to point out that failing to draw up such a legal document can result in inheritance tax issues.

The expert also suggested that people should update their wills if their circumstances change in terms of their assets and beneficiaries.

With combined industry experience of over 40 years, Ark Financial Planning specialises in taxation and trusts, pensions, mortgages, savings and investments.