You can expect a skilled and experienced team, offering everything from advice on the most straightforward cases, to complex estates with trusts for vulnerable beneficiaries.
What is a Will?
A Will allows you to:
- Provide financial security for loved ones – without a Will, you have no say in how your wealth passes
- Appoint trusted individuals to be responsible for your affairs (your executors)
- Decide How your property and possessions are to be divided
- Set your funeral wishes
- Reduce or even eliminate potential inheritance tax liability
- Decide who you wish to act as guardians for your children
Most wills and LPAs can be drafted for you at a fixed cost, which can be confirmed once we know more about your situation.
The law in this area is complex, and a will can be contested by a wide range of people.
A Lasting Power of Attorney is a document that allows you to appoint people to help you make decisions.
What should you consider when making a Will?
Things to consider when you make a will include
- Who will administer your estate
- Who will benefit from your estate
- Who will care for your young children
- How much financial provision to make for your beneficiaries
- What age your young beneficiaries will inherit
- Setting up a trust that provides for a vulnerable child or dependent
- Who gets possessions with sentimental value and family heirlooms
- Whether you’d like to leave anything to charity.
You can review your will at any time and can make amendments if your circumstances change.
Do you need help with the following?
- Lasting Power of Attorney
- Will Drafting
- Wills to Provide for Disabled
Contact us now to find out how we can be of assistance to you
Frequently asked questions
Your Will could become invalid If your circumstances change. For example, if you get married or enter into a civil partnership, any earlier Will that you might have had automatically becomes invalidated, which is known as revoked. Similarly, if you were to go through a relationship breakdown and divorce, that might affect how your Will is applied. So it's always important to check with a professional and see if your Will needs updating if there have been any important changes in your personal circumstances.
If you have lost a loved one, there is no easy way to find out if that person left a Will because there's no mandatory national register. So, the best thing to do is if you make a Will is to tell your loved ones about it. Generally speaking, if you use a professional, they will ensure that you have a copy and some material that you can leave with your loved one so that they know where the Will is stored and how they can retrieve it when the time is needed.
Will writing isn't a regulated activity and that basically means that anybody can make a Will. You can even make one yourself. But if you use a law firm, not only will you get expert advice, so it's not just a secretary or service that will type up what you ask them, but you'll get expert advice and importantly, you will also get tax planning advice, so it could save you tens and possibly hundreds of thousands of pounds. Plus you have the added benefit of protection, because law firms will be regulated, they'll be insured and so your loved ones won't lose out in the event something does go wrong.
A child can inherit in the same way anybody else can, whether that is with or without a Will. However, if the child is under 18, because they haven't reached the age of maturity yet under law, somebody else needs to be appointed to receive and look after their share of the Inheritance until they turn 18. Now. This does come with some important obligations because the person who is entrusted to look after the money for them might need to take advice or invest it in a sensible way to make sure that their money is protected and grows.
Keep your Will somewhere safe, waterproof, and fireproof. If you prepare your Will with solicitors, like Mullis & Peake for example, we can store them in our safe, free of charge.
A beneficiary is someone who will benefit from your estate once you have passed away. This could include property or cash, or both.
Mirror Wills are Wills made by two people which have the same content. However, these Wills can be changed at any time, as long as a person writing the Will has capacity. Although the Wills are very similar, they are not a ‘joint Will’.
Our latest insights
Wills and Probate Team
Manzurul is a Member and heads our Wills and Probate team.
Martyn is our Chairman and the firms' Compliance Officer for Legal Practice