A Will ensures that your wishes about your belongings, money and home will be fulfilled after your death. If you do not make a Will then the ‘intestacy’ rules will determine who will receive all your assets and who will administer your estate. These rules may well be contrary to what you would wish. The rules can cause unnecessary complications, delay and expense in the administration of your estate after your death.
Making a Will is usually straightforward and if you are clear in what you want in it then we will not complicate matters further. To start the process we will ask you to provide us with some basic information about yourself, your relatives and your assets and will then meet with you to check what you would like in the Will. We can also discuss any particular concerns you have about any particular asset or potential beneficiary or Inheritance Tax issues. We will then draw up a draft of the Will for you to consider and once this is approved by you we will see you again to execute the Will.
Making a Will is also relatively inexpensive and is likely to save your beneficiaries time and money as against the likely concern, delay and cost to others if you have not made a Will. We can provide an estimate of cost over the ‘phone after taking a few details from you. Alternatively please e-mail us or call into the office in person to discuss the likely cost.
It is especially important to make a Will if you and your partner are not married to each other as the law does not provide that the survivor on the death of one will necessarily receive anything at all from the deceased’s estate - which may include the deceased’s share of the family home.
Where there are ‘second families’ it may be necessary to consider how to provide for all those from both sets of families.
Those with young children should make a Will to set out who will look after the funds for them until they reach the age or 18 or such other age as you consider appropriate. A Will can also appoint Guardians to look after the children in the event of both parents' death.
It is essential that a Will is properly drawn up and signed in accordance with the strict requirements of the Wills Act 1837 as otherwise it will be invalid. We will naturally ensure that the necessary requirements are properly followed in the preparation and execution of the Will.