Wills

A Will is a legal document in which sets out what should happen to your net estate on your death. Your net estate consists of your house, cash, your car, and any other assets or possessions that belong to you less any outstanding debts, loans, bills, funeral expenses, etc.

The importance of making a Will cannot be overemphasised. However it is estimated that over 70% of adults in the UK have not made a Will and approximately 50% will never make one. If you fail to make a Will your estate may be distributed according to the rules of intestacy which set out how estates are to be distributed if no Will has been put in place and such distribution may not accord with your wishes.

Below are a number of reasons as to why you should consider making a Will:

• By making a Will you can set out exactly how your estate should be distributed and who should receive your assets and benefit from your estate.
• If you are not married to your partner he or she may not receive anything should you die without a Will.
• You may be able to make substantial Inheritance Tax savings by making a Will and incorporating efficient tax planning.
• You can state in your Will your wishes as far as funeral arrangements are concerned but it is always best that you should ensure that you have informed your next of kin of your wishes in case the details in your Will are not disclosed until after your funeral.
• By making a Will you can decide who you would like to act as executor in dealing with your estate. You may decide on a close friend or family member or you may decide to take the burden off them and employ your solicitor.
• If you have young children you can make provision for them in your Will. This should involve setting out who should act as guardian for them should both parents die whilst they are under the age of 18. You may wish to leave a legacy to your child from which they are only to benefit having attained a certain age.

Our Wills team have many years experience and will draft the will specifically to your wishes. We will advise you as to exactly what you should be considering as well giving consideration to the tax implications of your particular circumstances.

Your Will can then be held in safekeeping in our strong room and you will be able to amend it at any time by arranging an appointment to see us.