Wills & Probate
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Making & Revising Wills
It is important that you are prepared for the future and ensure that your loved ones are cared for when you are no longer around. We revise your existing Will or prepare a new Will for you in a simple yet efficient manner. We will ensure that your assets are dealt with in accordance with your wishes in the event that something should unexpectedly happen to you.
We can provide you with specific advice tailored to suit your individual needs to protect you and your family’s interests. Please contact our experienced solicitors for a free ‘no obligation’ quote.
What is a Will?
A Will is one of the most important documents that will be potentially produced for you. It is a legal document which formally records how you would want your estate to be distributed after your death.
Why are they Important?
Passing away without a Will can often cause both financial and emotional distress to your loved ones. Therefore, having an up to date and professionally prepared Will can avoid a great deal of issues that may arise.
What happens if I do not have a Will?
Unfortunately, if you do not have a Will in place before your death then the distribution of your estate will be decided by the government through the rules of ‘intestacy’, which may mean fewer rights for your loved ones.
Grant of Probate
Whether a person dies with or without a Will someone must deal with their estate by collecting assets, paying any debts, tax liabilities and distributing all the estate to it’s beneficiaries. Legal authority has to be sought from the Courts to access these assets in a procedure known as the grant of representation.
Simply Legal can assist and guide you through this process, we can simply assist in obtaining a grant or if required administer the entire estate.An application for Probate gives you the right to deal with the property, finances and the overall estate on behalf of someone who has passed away.You will have the right to apply for probate as a result of being appointed as an executor in the deceased’s Will. If no Will has been left then the next of kin would have the right to apply for letters of administration.
Persons entitled to deal with an estate are known as executors (if named in a Will) or administrators (if there is no Will). They are both known as personal representatives. It is their job to ensure the estate is dealt with correctly and assets/liabilities are reported accurately. In the event the personal representatives fail to do this, they can be liable for any wrongdoing. Therefore, it is really important to seek professional advice for this as there are many things to consider such as calculating the inheritance tax (IHT) position and dealing with HM revenue and customs to dealing with banks, life insurance policy providers to pension companies.
Frequently Asked Question’s
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What forms part of your estate?
Your estate consists of your property and possessions at the time of your death. This would be less any outstanding debts and liabilities you may have. There are certain assets that do not form part of your estate such as your life insurance and pension benefits.
What can a Will cover?
Your Will can specifically state how you wish for your estate to be distributed i.e what amount and for who this would be for. Your Will is tailored precisely to your individual need.
You can specify your funeral wishes to confirming guardianship for your children.
Who will be responsible for making sure your Will is adhered to?
In your Will you can appoint executors and trustees. These will be the people you nominate who will be responsible for dealing with the financial administration of your estate.