WHY SHOULD I MAKE A WILL?
Thinking about what should happen after you die is not usually at the top of a “to do” list but making a will is an essential part of your estate planning to ensure that your estate is left to your loved ones and your money and property is promptly distributed in accordance with your wishes. Making a will and regularly updating your will gives you and your family the peace of mind of knowing that in the event of your death, the planning is already in place for the distribution of your estate.
The number of people who die without making a will is still very high and for family and friends left behind, the process of applying to distribute the estate is a long and complicated one. If you die without making a will you die “intestate”. This means that your estate will be distributed in accordance with the intestacy rules and that could mean that family or friends who you want to benefit from your estate are left out.
We will take you through the decisions you need to make in your Will, including:
- Who will deal with your estate
- Who will benefit from your estate
- Who will care for young children
- Whether you will leave anything to charity
WHEN SHOULD I MAKE A WILL?
There is no time like the present to make your will. If you are over the age of eighteen and you have full mental capacity to make a will, it can be made at any time. The arrival of children often prompts people to think about estate planning. A change in your circumstances such as marriage and divorce are times to make a will or amend an existing one because marriage and divorce impacts on the provisions you have made in a will. A change in the size of your estate could prompt a rethink of your estate planning to minimise your inheritance tax liability.
HOW DOES IT WORK?
Call the office and make an appointment to see one of our specialist solicitors. In advance of the meeting, we will send to you a questionnaire to complete to give us as much information as possible about your circumstances. Once we have your instructions and we have discussed what are the right provisions in your will for you and your beneficiaries, we will then prepare a draft of the will and explain the provisions. If you are happy with the will, a final version will be prepared for signing by you and your witnesses. We recommended that you come to the office to sign the will in front of two of our staff members who will also sign the will. We can then date the will and save an electronic copy in our system so that if you ever lose your original will or it is destroyed, we have a copy of the original will for the executor to use when applying to the probate registry for permission to administer your estate.
HOW MUCH DOES IT COST?
A basic single will start from £195 plus vat.
Basic mirror wills start from £295 plus vat.
For more complex wills we will give you a quote once we understand your wishes and the size of the estate.
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