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08/06/2009
Legal importance of wills underlined |
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The importance of will writing has been emphasised by one expert, who noted the significance of having such a document for tax purposes.
In an answer to a consumer query in the Daily Mail, Heather Taylor from accountancy firm Grant Thornton explained that the information provided by wills can give proof of where funds subsequently used for investments have come from.
The situation was one where a reader had inherited money from two wills in quick succession and invested the funds in 2003, only to be asked by HM Revenue & Customs to prove the source of the income, suggesting it could be business earnings.
Ms Taylor said that the solicitors who dealt with the wills should be able to provide the necessary information.
Those thinking of writing a will may wish to consider that the legal document they create will provide information and evidence that could be particularly useful to inheritors who might face tax or other financial queries.
Last week ecomparison.co.uk advised that even those with a limited number of possessions should make a will.
Written by Anna Norton
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