A Will is a legal document which sets out who will take control of your money and personal belongings when you die so you can ensure your hard-earned assets pass to your loved ones.
If you have young children, your Will can appoint Guardians to take care of them.
Although it is possible to make a home-made Will, the complicated drafting requirements and strict signing procedures which apply to even the most straightforward Wills often result in an invalid document which has no legal effect.
Many people feel that there is no point making a Will because they aren’t wealthy enough. The truth is that no matter how much you have, making a Will gives you peace of mind that your wishes will be carried out by those you trust the most.
Wills are extremely important for blended families, particularly for those wishing to provide for new partners whilst protecting children from an earlier relationship.
These Wills must be carefully prepared to ensure that everyone’s needs are catered for and to avoid the family falling out after your death.
Getting the right advice for your Will can help minimise the amount of Inheritance Tax you pay. The earlier you start preparing for the future, the easier and more effective your plans will be.
If you die without making a Will – intestate – a statutory framework, known as the Rules of Intestacy, governs who takes control of your assets and who benefits from your estate.
These rules are old-fashioned and do not recognise the fact that family units are becoming increasingly complicated. This can be particularly distressing for unmarried partners who are not provided for under these Rules.
The Rules of Intestacy can also lead to a former partner with parental responsibility for a bereaved minor child looking after the child’s inheritance until they reach the age of 18.
Long term residential care is a financial worry for many clients looking to the future.
A carefully drafted Will containing a Trust can help to preserve assets but it is important to seek professional advice to be certain that any planning fits your particular circumstances and you are aware of all of the implications of creating a Trust.
Often, clients are discouraged from making a Will because of the potential cost. We offer fixed fees for all of our Wills so you know right from the start how much the cost will be.
Why use a Solicitor for your Will rather than a Will Writer or a DIY kit?
If you’re thinking about making a Will, or wish to review your existing Will, please get in touch for a no obligation consultation.
Having a professionally prepared Will in place can save money in the long run. It means that the administration of your estate after your death can run smoothly and makes things easier for your family at a very difficult time.
Call us on 0191 2522396