Q: What happens if I do not have a Will?
A: Your estate will be dealt with under the Intestacy Rules. These rules will determine not only who benefits from your estate but who can administer it. This can include people who you do not intend your assets to go to and if you are not married your partner will be excluded all together.
Q: Why should a solicitor draft my Will?
A: If a Will is not drafted correctly it can cause several problems when dealing with the estate after someone has died. Some problems can occur when wording of a gift is incorrect resulting in that gift failing or if the Will has not been executed properly it will not be valid leading to an intestacy. There are also a lot of will writing companies who offer reduced rates for Wills so you may think you are getting a bargain. However, independent will writers are not regulated, and some will not have any formal legal qualifications unlike solicitors, which means there is a reduced level of protection for clients and sometimes gaps in advice due to lack of knowledge.
Q: When should I make a Will?
A: From recent poll taken of the adult population in the UK, it is estimated 54% of adults in the UK do not have a Will. If you have children, own a property, have savings or money in the bank of any kind or amount, have re-married, are divorcing or are co-habiting you should have a Will. These are only a few reasons to have a Will. Did you know that your Will is the document that appoints legal guardians for your children if you and you partner die?
So, considering the statement above 54% of the UK adult population are potentially leaving loved ones unprotected.
If you need to update or make a new will - get in touch 01554 749144