MAKING A WILL - ONLINE SOLICITORS
Making a Will is an important duty that many people forget or do so completely inadequately. It’s often said that the largest and most important financial transaction that most people will make during their lifetime involves buying their own home however that is not strictly true. An even more important issue relates to how assets are distributed after the death of the owner. The majority of the UK population are substantially wealthier than those in previous generations and most people will own assets at the time of their death. Without a properly drafted and legally executed document giving instructions about the disposal of assets the State steps in and applies its own rules which in some cases can mean that all of the assets of the deceased are forfeited and are passed to the Crown only to end up in the Chancellors coffers.
It is therefore a matter of supreme importance that every individual leaves sufficient instructions to ensure that their assets are distributed according to their wishes which can only be carried out by making a will that is legally enforceable. Of course there is no need to employ solicitors or a will making service and many people use DIY documents with varying degrees of success however you must ask yourself whether or not you are prepared to trust your own amateur abilities or the skills of unqualified or inexperienced will writers with your assets after you are gone. You may have family members who are dependents including a spouse or children and the last thing that your family need is to have to dispute a badly drafted or unenforceable will coupled with the grief of losing a loved one.
The errors most frequently encountered by solicitors in regards to an individual making a will that is not professionally prepared include :-
- inadequate signature and execution of the will by the testator and by the witnesses
- allowing the Crown to claim assets that are not specifically distributed to beneficiaries
- failure to consider eventualities in the case of a named beneficiary dying first
- improper alteration of a will thereby making it totally or partially null and void
- failing to consider the effects of births, marriages, deaths, divorce and civil partnerships and planning accordingly
- failure to consider if other dependents who are not named as beneficiaries may have a prior claim on assets
When our solicitors are making a will they use modern will precedents that have been written in plain English. You will not be bamboozled by legal jargon either on the telephone or in the documents supplied by us. Our charges are very reasonable and depend on the amount of work necessary to carry out your instructions. We are able to provide you with a quotation online or over the telephone and offer discounts for family wills or mirror wills for spouses.
For those with substantial assets there may be a necessity to consider inheritance tax planning to ensure that the burden of tax on death is minimised. We offer a full professional service with access to qualified accountants when the need arises. Assets valued at a figure above the current allowance is taxed at 40% on the value of property and assets and on certain lifetime gifts subject to available exemptions and relief. There are a number of different ways in which liability to tax upon death can be lawfully and legitimately reduced both during the deceased’s lifetime and after death however this does usually require expert advice.
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