Wills

Having a Will in place is vital if you want to make sure that your estate is managed and distributed according to your wishes when you eventually pass away. If you do not have a Will, your estate will be subject to the rules of intestacy – and it is likely that many of your possessions will go straight to the state instead of to your loved ones.

Many of us put off making a Will until it’s too late. Some people find the whole process to be daunting and confusing, while others incorrectly believe that existing laws will automatically administer inheritances to important family members, such as their children or their spouse.

We cannot stress enough the importance of writing a Will with the specialist support of a probate solicitor. It’s the only way to make sure you’re safeguarding your possessions and planning your estate in the most tax-efficient way possible.

When you make a Will, you’ll need to choose your executors and beneficiaries. The executors of the Will are the people who will be responsible for making sure your wishes are fulfilled when you’re gone; the beneficiaries are the people who will receive some, or all, of your assets, upon death. To make sure your preferences are enforceable, all the finer details of your Will will need to be written into a valid, legally binding document that has been signed by you (or somebody else on your behalf) and marked by two witnesses who are over the age of 18 and are of sound mind.

It sounds simple enough – and, of course, it is entirely possible to write your own Will. However, the Will writing process can be more complicated than you expect, especially if there are many beneficiaries involved and/or you need to consider inheritance tax implications. We would always suggest talking to our expert solicitors for honest, straightforward advice on writing a Will before you make any costly mistakes.

If your circumstances change – for example, you have more children, or go through a divorce – remember that you will need to review your Will to make sure it still accurately reflects your requirements.