Writing a Will
You've worked hard all your life
Have your last wishes
All our lives we work hard gathering assets such as a house, savings, jewellary, car and so on. All our assets are known as our ‘estate’.
Writing a Will ensures our personal possessions are shared out according to what is written in the Will after we die.
If you die without a valid Will, you will have no say in what happens to your estate after you die. Instead, the ‘Rules of Intestacy’ will divide your estate in a pre-determined way and this may not benefit people who you wished to benefit from your personal possessions.
It also may not be carried out in the most tax-efficient way. In most cases this can lead to hardship and arguments.
You may assume that your personal possessions will be divided with those whom you live with, married to or just immediate family but this is not the case. Having a Will can save your estate from expensive and lengthy legal battle and it can also ensure your personal possessions are shared out amongst those you wanted to benefit. Everyone should have a Will regardless of how much their personal possessions are worth but more importantly if there are young children or continuing a family business to consider.
First, you must list what you have in your estate, then you can decide how your estate is to be shared between beneficiaries (who gets what). You also need to think about:
- what happens if any of your beneficiaries die before you do
- who will look after your children if they are still underage, vulnerable or disable (if you have any)
- who should carry out the wishes contained in your will (your executor and trustee)
- who should run your business (if you have one)
- any other wishes you may have, for example whether you want to be buried or cremated.
Do not forget once you get married, accumulate more assets, get divorced or even have children and grandchildren you may want to review and make changes to your Will to fit your circumstances.
Will writing really is best left to professionals
Can I write my own Will?
Yes, you can, but trying to make your own Will, without legal assistance, can lead to mistakes or lack of clarity and could mean that your Will is considered invalid. If you have several beneficiaries and your finances are complicated, it is even more important that you get a professionally trained Solicitor to make your will.
This makes it easier for those you leave behind.
Our Solicitors at Whitestone are friendly and approachable with over 27 years’ experience in dealing with Wills and Probate.
We have the legal experience to handle your wishes as efficiently and as sympathetically as possible.
Why not call us on our FREE phone line 08008 101010.
The process to writing your Will need not be complicated and depending on your circumstances it need not be a lengthy process either. Just make a list of your possessions and family set up and we will sort out the rest for you.
We do offer FREE legal advice so if you are unsure about the process feel free to call to us to discuss your queries or requirements with one of our experienced Solicitors.
Setting up a Trust
Can reduce Taxes
Setting up a Trust can be a way of reducing taxes which are normally levied on an estate after death. However, careful planning is required when considering probates and trusts and it is important that early discussion takes place to ensure that the right decisions are made for everyone concerned