Making the Right Will

Many people put off making a Will.

Don't worry, though. You will not be signing your death warrant! Making a Will makes sure your wishes are carried out and saves problems for those you leave behind. Without a Will there can be uncertainty, your money and property will be divided according to the intestacy rules and the Government could take more of your Estate in inheritance tax than they need to.

A Will sets out how your money and property is to be distributed on your death. It can be changed by you at any time in your lifetime. As things change so can your Will.

If you are living together as a couple, but not married or in a civil partnership, you may believe that your partner will automatically inherit your Estate and become guardian to the children - WRONG !

Your Will lets you choose who you want to carry out your wishes. Choosing the right people is obviously important. They need to find out what you own, what liabilities you have and make sure that all monies are collected in and all debts are paid before they distribute the balance in accordance with your wishes.

If you have young children your Will may make provision for who will look after them and how the funds will be found to do this until they are old enough to take care of their own finances.

WHAT DOES IT COST?

Depending on the complexity, a will costs between £100.00 and £150.00 per person, or between £200.00 and £250.00 for a pair of mirror Wills. Although you can buy DIY kits from stationers they are difficult to complete accurately, and could mean that your Will is invalid, leaving your estate ruled by the laws of intestacy or open to challenge.

WHAT SHOULD I DO?

Before you make an appointment to see us, think about the following points:

  • Who will be my executors? It is recommended that you have at least two people whom you trust to carry out your wishes after your death. You should check with with them in advance that they are prepared to do this.
  • Be clear in your mind who you want to leave your estate to, and in what proportion.
  • If you have young children who will be their legal guardian?
  • Make a list of your assets with a rough idea of how much they are worth at present.
  • Do you have any particular requirements for your funeral or cremation?

We will advise you about all these points and of course make sure your Will reduces Inheritance Tax liability in the most efficient way. Then just make an appointment.


Email Kim Welford at kw@franklinslaw.co.uk
or alternatively telephone 01525 376 611 today.
Making a Will
Initial
                  Consultation only £79 - Find out more
Initial
                  Consultation only £79 - Find out more