What is a Will?
A Will is a vital document to give you peace of mind that your loved ones will be taken care of when you die.
It allows you to set out your wishes relating to who you would like to receive your assets when you die. It also allows you to decide upon the following:-
- Who you want to manage your affairs, these people are known as executors;
- Who will take care of your children, and how to make sure your children are well provided for;
- Your funeral wishes;
- If you wish to make any charitable donations from your estate;
- How you would like your assets to be divided.
A Will can also help you to protect your assets from costs of care homes and inheritance tax.
What happens if someone doesn’t have a Will?
If a person dies without a Will, a set of rules known as the Intestacy Rules would determine who would be entitled to inherit your estate based on your family tree. If you are married and have children, your spouse would be entitled to the first £270,000 of your assets, with the remainder to be divided between your spouse and your children. If you are an unmarried couple, your partner is not automatically entitled to anything from your estate which could mean that a distant relative would legally inherit your assets instead.
How can we help?
By having a professionally prepared Will, you can ensure that your Will meets all the legal formalities so that your wishes can be carried out as intended. If a Will isn’t drafted clearly, it may mean your instructions are not followed, it could be misinterpreted which means a gift may not pass to your intended beneficiary or it could be held to be invalid.
If a Will was found to be invalid the Intestacy Rules, mentioned above, may apply instead.
At Brearleys we offer a bespoke service to make sure your Will meets your needs. We offer competitive fixed fee prices so that you know the costs upfront. We are able to deal with matters face-to-face in the office, and remotely using telephone and video appointments.
For more information or to book an appointment please contact the office here https://www.brearleyssolicitors.com/contact-us/