The reality is that you can put off making a Will until it is too late. Having no Will in place can pose all sorts of problems for the people you leave behind and could mean that your inheritance either goes to the wrong person or to the state through the laws of intestacy.
Making a Will ensures your estate goes to who you want it to go to. If you don’t make a Will you die intestate and the state will decide how your estate is distributed.
Making a Will gives you the opportunity to say who you would like to bring up your children in the event of your death. In a Will, the people you appoint to do this are referred to as Guardians.
Getting married invalidates a Will so once you are married your existing Will is no longer valid. You need to make a new Will ASAP or your estate will be subject to intestacy rules.
Protecting your children’s inheritance is also known as ‘Bloodline Planning.’ Bloodline Planning ensures that your assets go to your children and grandchildren rather than ending up in the wrong hands!
The role of an Executor role can be daunting and time consuming depending on individual circumstances. Some of the roles include; making lists of all assets and debts including utility bills, settling all deceased debts and paying out any inheritance tax necessary, locating heirs and distributing the contents of the Will and arranging for the care of any minor children or pets.
A trust is an obligation binding a person (which can be an individual or a company) called a ‘trustee’ to deal with ‘property’ in a particular way, for the benefit of one or more ‘beneficiaries.’ For more information regarding trusts please contact us.
No, it is a common misconception that only solicitors can write a Will. Many people prefer the flexibility of either being able to have a specialist Will Writer visit them at a time and place that is convenient for them. To ask any questions or to book a free consultation with one of our Will Writers please use our Will Writing Enquiry Form
A witness or the married partner of a witness cannot benefit from a will. If a witness is a beneficiary (or the married partner or civil partner of a beneficiary), the will is still valid but the beneficiary will not be able to inherit under the will.
In 1837 the UK government passed a law that stated when a person signs a Will there must be two independent adults (over 18) to witness this happening. Therefore for a Will to be valid, the two witnesses must actually see the signing of the Will and the person making the Will must see the witnesses sign too. Witnesses must not be potential beneficiaries of the Will.
A Will is a valuable document and it’s never advisable to store in your own home due to a risk of; loss, burglary, damage from fire, flood or tampering by others. You should store your Will in a secure place ensuring your Executors know where this is.
Will & Estate Planning Glossary of Terms
Trusts FAQs
Lasting Power Of Attorney FAQs
For more in-depth discussions on Wills, Trusts and Estate Planning topics Check out our Blog