Your Will tells everyone what should happen to your money, possessions and property after you die. If you don’t leave a Will, the law decides how your estate is passed on – and this might not be in line with your wishes.
How can we help?
- We can help guide you regarding your Will
- Making a will ensures that your wishes in respect of the division of your estate are followed but there are also other reasons to make a will:
- Executors– a Will allows you to appoint your own executors. They are responsible for dealing with the administration of your estate when you die. They can also be a beneficiary.
- Guardians– if you have children under eighteen, a Will allows you to appoint someone to take guardianship of your children if you were to die before they attain eighteen.
- Funeral Wishes –You can set out your wishes in your Will
- Trusts –A Will allows you to set up a trust on your death which may be required for tax purposes or to protect a vulnerable beneficiary
- Estate Planning– When making a Will, we can advise you in regards to your tax position and any planning that you can do either during your lifetime or in your Will to protect assets and reduce your inheritance tax liability.
What happens if I don’t have a Will?
- Your estate is dealt with under the ‘intestacy rules’. These are rules which state how an estate is to be divided when a person dies without a Will. A person who dies without a Will is called ‘intestate’
- These rules may divide your estate in a way that you would not have wanted and may result in a distant relative receiving part of your estate rather than someone closer to you.
Marriage / Divorce
- If you have an existing Will, following a divorce, any gift made to a former spouse would be void; however the rest of your Will is still valid. We would however strongly advise you to make a new Will as soon as divorce proceedings begin.
- If you have a Will and then get married, your Will would be revoked (cancelled) by that marriage and you will therefore need to make a new will.
- If you have plans to marry when making a Will, we can put a specific provision in your Will to avoid it being revoked when you do marry.
Costs vary depending on the type of Will you wish to make, however our basic costs are as follows:
- Single, straightforward Will £175 plus VAT
- Straightforward mirror Wills for a couple £250 plus VAT
- Wills involving a property trust or other trusts price on enquiry
If you would like a quote for making a Will or to find out more about our services, please contact:Jennifer Wilkinson - firstname.lastname@example.org
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