Writing a will: Protect your loved ones
Making a will can be a daunting task but it's an important one. With expert guidance from our experienced will solicitors, we will help protect the ones you love and ensure that your estate is dealt with in the way you choose.
Whatever your personal circumstances, our will writing solicitors can prepare your first will or update an existing will either by a Codicil or drawing up a new will.
What is a will?
A will Is a legal document that an individual creates that outlines who will inherit your estate and has instructions on what should happen after you pass - the individuals responsible for your estate are known as executors.
What happens if I don't have a will?
If you die without a will, your estate will be distributed according to intestacy rules and the people you care about will most likely lose out, so it's important to prepare your will in advance of these circumstances.
Things to consider when making a will:
- Assets: How much money and what property and possessions do you have?
- Beneficiaries: Who do you want to benefit from your will? This is a particularly important consideration for couples who are not married or civil partners, as the intestacy rules give no rights to the surviving partner.
- Dependent children: Who will look after your children whilst they are under the age of 18?
- Executors: Who will sort out your estate and carry out your wishes? Generally, you will want to appoint members of your family, but there may be circumstances where it may be preferable to appoint a professional.
- Inheritance tax: A will can help you avoid inheritance tax by leaving your estate to a spouse.
- Funeral wishes: You may wish to have specific funeral arrangements carried out after you pass on, a will can outline this.
Wills for unmarried couples
If your partner passes away without a will in place, it may be a struggle to acquire their property and possessions as the rules of intestacy will immediately apply - this means that your estate will most likely be allocated to your family members according to the rules.
In these circumstances, you can apply to become the administrator of their estate, but we highly recommend making a will to avoid any complications and protect the ones you love most.
Changing your will
Once you have set up your will it is also important to keep it under review - as your circumstances change you might decide to change your executors or the people who are to benefit from your estate. For example, if you remarry this automatically revokes any will you have previously drawn up. Websters' expert solicitors can help you update and change your will as frequently as you need.
A tax-efficient will
With over twenty years of experience in the tax profession, our will writing solicitors can advise you on how to set up a will that is tax-efficient. For example, this could be by gifting some of your estate to your favourite charities or including a trust to ensure children from a previous relationship are protected.
You can be assured that Websters brings together the expertise of a qualified solicitor with the additional expertise of tax specialists and financial advisors to make sure your will is correctly drawn up and that your estate is left to people you wish to benefit.
