The need for a Will is crucial if you want to provide for your family and causes dear to your heart.
When you are economically independent, married, have your own property, have children, you want to do your very best to provide for your loved ones. Writing a Will so that your wishes are respected and executed accordingly is one of the best ways to protect the interests of your loved ones.
Milestones in life, anything from getting married to being your own boss, are usually events that trigger people to organise their estate and write a Will.
A legally-binding Will allows you to spell out exactly how you want your estate to be handled – meaning who will receive your property and possessions after your death. Having a Will also means that you can choose a designated executor who will apply for Grant of Probate when you have passed on. The executor of your estate will also collect and organise your assets, settle your debts and then distribute your assets in accordance to your Will.
In the event that you do not have a Will, your estate will be distributed according to the rules of intestacy which may fail to address your wishes and the needs of your loved ones.
In this article, let our experienced Will solicitors walk you through a few commonly asked questions pertaining to Will making.
The word ‘simple’ here can lead to complications. Most people have possessions, a bank account with some money and maybe a house. Ideally you would want these assets to go to your loved ones or causes that you cherish. Only in the extreme circumstance that you really do not own a single thing in life, then you can safely discount the benefits of making a Will.
Most solicitors do not advise you to make your own Will by writing it on a piece of paper of using a DIY kit. The main reasons are:
If you want to know more, follow the link to this article The dangers of Do-It-Yourself Wills.
Yes, you can change your Will at any time. Milestones in life usually trigger one to reassess one’s situation – this is a good time to make or change a Will.
When you get married, any of the Will that you have previously drawn up is automatically revoked.
When you get divorced, your ex-spouse will no longer be a beneficiary unless you have explicitly stated otherwise. If your previously drawn up Will has your ex-spouse as your executor or trustee, you need to create a new Will soon as they will not be permitted to act as executor or trustee.
Your Will should be kept in a safe place and ideally you should let your executor know where it is being kept.
It is possible for someone to challenge a Will on one of the following grounds:
As every situation is unique, we encourage you to contact our solicitors so we can review the prospects of such a challenge. Also, we can help you to defend such a claim.
At Romain Coleman, our Will and Probate solicitors are here to assist you. Call us today on 0208 520 4555 and you will find that we are honest, impartial and always explain things without legal jargon. Most importantly, we provide excellent legal work without any hidden charges.
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This post is not legal advice and should not replace professional advice tailored to your specific circumstances. It is intended to provide information of general interest about current legal issues.