Wills

What is a Will?

A Will is one of the most important documents you can have, as it ensures your assets are passed on to the person or persons you choose. While it may not be pleasant to think about, it is inevitable that one day you will need to leave your possessions and property to someone.

Why do you need a Will?

Having a Will is crucial for several reasons:

Control Over Asset Distribution: A Will allows you to specify exactly how you want your assets to be distributed after your death. Without a Will, your estate will be distributed according to the rules of intestacy, which may not align with your wishes.

Avoiding Intestacy Rules: If you die without a Will, your estate will be distributed according to the Intestacy Rules. These rules have a strict order of priority for beneficiaries, which might not reflect your personal preferences. For example, your spouse or civil partner may inherit the entire estate if there are no children, or a significant portion if there are children, with the remainder divided among the children.

Appointing Executors: A Will allows you to appoint executors who will manage your estate according to your instructions. This can ensure that your estate is handled by someone you trust.

Providing for Minor Children: Through a Will, you can appoint guardians for your minor children, ensuring they are cared for by someone you choose.

Minimising Family Disputes: Clearly outlining your wishes in a Will can help minimise disputes among family members over your estate.

Tax Planning: A well-drafted Will can help in planning for inheritance tax, potentially reducing the tax burden on your estate.

Services We Will Undertake for You

Unless otherwise instructed, we will perform the following services:

Initial Consultation and Advice: We will take instructions regarding the content of your Will and provide you with advice on its content and implications.

Drafting the Will: We will draft your Will in preparation for your signature.

Review and Explanation: We will review the Will with you, explaining the content and operational effect of each clause.

Execution of the Will: If you are satisfied with the content, we will oversee and witness the signing of the Will to ensure it is executed correctly.

Documentation and Evidence: We will create a file note detailing that the Will was signed correctly, providing evidence of your capacity to make the Will, that it was made free of undue influence, and that it was executed properly. This evidence can be used if your Will is challenged in the future.

Provision and Storage of the Will: We will provide you with a copy of your Will for your records. Unless instructed otherwise, we will retain the original in our strong room at no charge. This ensures that if the copy is misplaced, we can provide you with another copy, also free of charge.

Work expected to be carried out in this transaction but not included.

None.

Time frame

We will strive to see you within two weeks of initial instructions to execute your Will.

Fees

Simple standard Will (Executors, with under 5 Legacies and Residuary Estate clauses) - £200.00 plus Vat (£240.00)

Non standard Will (including property trusts) - £400.00 plus Vat (£480.00)

More complex Wills billed at an hourly rate*

*If the Will is not a simple, standard, Will, additional work will be carried out at our standard rates. If these rates are to be applied, you will be advised of this at our initial meeting, or when it becomes evident to me that they will need to be applied.