WHY SHOULD I MAKE A WILL?
It gives you absolute peace of mind. By making a Will, you can direct what is going to happen to everything that you own from your house to your record collection.
You also choose who you want to deal with sorting out your affairs after you have died. These persons are known as “executors.”
You can also choose who looks after your children should they still be under the age of 18 at the date of your death. These persons are known as guardians.
Spouses can incorporate will trusts to protect assets against long term nursing care, or the remarriage of the surviving spouse.
You can incorporate will trusts to protect assets on behalf of a vulnerable beneficiary.
If you are co-habiting and not married or in a civil partnership, then your assets will not automatically pass to your partner. It is extremely important therefore to make a Will to ensure that your assets go to the persons you wish to benefit.
This is the procedure for dealing with the estate of someone who has died.
It involves assessing their estates, notifying institutions and government departments. Thereafter, reporting to HM Revenue and Customs and applying to the Probate Registry, (a division of the Courts), collecting in the assets of the deceased, paying off any debts and distributing their estate according to their will.
The Executor, (usually appointed in the Will of the deceased) has the role of applying for a Grant of Probate, (a court stamped/sealed document) giving authority to the Executor to administer the estate.
It can be a daunting task to contact all the institutions and deal with the formalities of Probate, when you are grieving a loved one. We will assist you in the process and offer a personal, caring approach to put you at your ease and take the burden from you.
We can obtain the Grant of Probate, (with you providing the details of the estate assets and liabilities) and then you can administer the estate or;
We can obtain the Grant of Probate, and we can obtain all the information relating to the deceased’s estate
We can collect in the assets, pay any inheritance tax (if applicable), pay off any estate liabilities, administer the estate according to the Will
Our conveyancing team can act in the sale of any estate property, meaning everything can be dealt with under one roof.
We charge at our current hourly rate of £302.50 plus VAT and disbursements which is subject to review.