A Will is a legal document you create that sets out instructions for who will inherit your estate and what should happen after you die. Making a Will can help protect your loved ones, and ensure your estate is dealt with in the way you choose.
If a Will is not set up correctly it may not be valid. If you die without a Will, your estate will be distributed according to strict rules (known as the intestacy rules) and the people you care about may lose out. You can be reassured that websters brings together the expertise of a qualified solicitor with the additional expertise of tax specialists and financial advisers to make sure your Will is correctly drawn up and your estate is left to the people you wish to benefit.
We can also advise you on how to set up a Will which is tax efficient – for example gifting some of your estate to favorite charities. It may also be appropriate to include a trust – for example, to ensure children from a previous relationship are properly protected.
When setting up a Will you should consider the following.
- How much money and what property and possessions do you have.
- 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.
- Who will look after your children whilst they are under the age of 18?
- Who will sort out your estate and carry out your wishes? These people are known as executors. Generally, you will want to appoint members of your family but there may be some circumstances where it may be preferable to appoint a professional.
Once you have set up a 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. If you remarry this automatically revokes any Will you have previously drawn up.
Whatever your circumstances we would be pleased to help to prepare your first Will or updating an existing Will either by a Codicil or another new Will.