Making a Will
Why Make A Will?
Many people think that they do not need a Will because:-
- Their “Next of Kin” will inherit their money anyway or;
- They have “nothing to leave”.
In recent years, having an up-to-date Will has become essential for anyone wishing to safeguard the interests of their family, friends and dependants. It is no longer simply a requirement for the wealthy or elderly.
Where someone dies without leaving a Will this is called “an Intestacy”. There are certain Rules which define who should inherit in this situation. However, this can sometimes produce the wrong “result”. This can often happen in the case of second marriages or where someone is not married but has a partner or where they have children from different relationships.
This can cause distress to your family and can often prove expensive to try and sort out. These Rules can also mean that in certain circumstances your wife/husband only inherits part of your estate with the rest going to your children. The Intestacy Rules also determine who should inherit if you are not married and have no children.
The best way of avoiding the unintended consequences of the Intestacy Rules is to make a Will.
By Making A Will You Decide Who You Wish To Inherit After Your Death
In your Will you decide who sorts out everything after your death (called “Executors”) and where there are young children involved, who looks after their Inheritance until they are adult (called “Trustees”). You can also appoint guardians for your children.
Why Use A Solicitor?
Our Probate Department has many years of professional and personal experience which will ensure that you make the right decisions for your own personal circumstances. We can advise you about ways to reduce the impact of Inheritance Tax and how to ring-fence assets to prevent everything being spent in long term care fees.
What If I Have Already Made A Will?
We can review your Will to see if it is still suitable to your particular circumstances.
Many people do not realise that if you remarry your Will is automatically revoked (unless it has been made in contemplation of marriage). If you wish to safeguard your children’s Inheritance, it is important to make a new Will. We can advise you on ways to ring-fence assets to pass onto your children, whilst still allowing your spouse to benefit. It is also important to update your Will if you are separated or divorced.
Our Probate and Family Law Teams can work together to ensure you receive the appropriate advice for your circumstances.
In addition, our Litigation Department can help with making claims against estates in circumstances where you wish to challenge the validity of a Will. We can also advise on claims under the Inheritance (Provision for Family Dependants) Act 1975, if you have been caused financial hardship as a result of having been excluded from someone’s Will or where you are not entitled under the Intestacy Rules.
We aim to provide clients with appropriate time sensitive and financially sound planning for the future.
We are happy to offer home or hospital visits when required (this may incur an additional charge).
Please feel free to contact us by e-mail or telephone or by visiting our offices.