Why do you need a Will?
A Will allows you to decide what happens to your money and property after you die.
If you do not make a Will, the Intestacy Rules will divide your estate in a pre-determined way and this may not be to people you wished to benefit. For example, unmarried partners do not automatically receive anything. It may also mean that a costly application to the Court may be required to attempt to rectify the situation.
You might also end up paying more in Inheritance Tax than would have been the case had you planned your affairs with a Will drafted by a fully qualified solicitor.
Having a Will ensures that:
- You decide who inherits your estate
- You choose suitable persons (Executors) to administer your estate
- You can appoint Guardians for your children
- You can avoid family and legal disputes
- You can safeguard assets
- You can mitigate inheritance tax
- You can create trusts for your family to protect against bankruptcy and divorce proceedings and possibly reduce the impact of care home fees
Why do I need a solicitor to draft my Will?
- Inheritance law is complicated. We can ensure that your Will is tax efficient and reflects your wishes, especially if your finances or personal situation is complicated. We can also advise you how to limit the chance of legal proceedings under the Inheritance (Provision for Family and Dependants) Act 1975 after your death by disappointed family members.
- We will make sure that there are no mistakes in the signing of your Will and that it is witnessed correctly. An incorrectly signed Will may be not be legally binding.
- We will store your will in our secure fire-proof storage for no extra charge.
- Will writers are not regulated nor required to have insurance against the risk of error or negligence. We are regulated by the Solicitors Regulation Authority and carry Professional Indemnity cover worth up to £5,000,000.
Contact Jonathan Jacobs, Tsyrina Tan, Karin Cox-Putker or Jessica Williams for further information, or to arrange a meeting. In all cases we will give you an indication of the level of costs likely to be involved and details of relevant charging rates.