Why should I make a Will?
IF you haven’t made a Will,
the law dictates how your possessions are divided up. If you
are married, your husband or wife may not inherit everything
you own, and if you are single with no close family, all that
you have could pass to the State. By making a Will you can
decide for yourself what will happen to your estate, and you
could avoid unnecessary worry and complications for those
you leave behind.
AMONGST other things, you can deal
with the following:
You can choose executors. These are
the people that will carry out the instructions in the Will.
You sometimes need only one executor though it is common to
appoint at least two, who may be family or friends. There
is no reason why a beneficiary cannot also be an executor...
Why you should make a will
The laws of the land, as set
out in The Administration of Estates Act 1925, state, for example:
If your estate is worth more than £5,000 and
you have not made a will, then your estate will be distributed
under the intestacy laws
If you are single and living with someone, your partner
will not automatically inherit anything when you die unless
you make a will...
5 Easy Steps to Making your
Will
When you make your Will with us, you are taken through the
following 5 simple steps:-
(1) You and your Wishes
(2) Responsibilities
(3) Specific Gifts of Material Possessions
(4) Specific Gifts of Money
(5) Your Residual Estate.
1) You and your Wishes
You need to tell us your full name and address, marital status,
sex, and whether/where you wanted to be buried or cremated
on your death.
Should I use a Solicitor?
First of all, to be legally
valid a Will does not have to have been written by a Solicitor.
Provided that it is correctly worded, who actually wrote your
Will is completely irrelevant. Furthermore, to be legally
binding a Will does not have to be witnessed by a Solicitor
either - it can be witnessed by any two people who are not
beneficiaries or directly related to a beneficiary.
Our on-line software generates your Will by incorporating
standard paragraphs, which have legal precedent....
Nil Rate Band Discretionary Trust Wills
Where married couples have combined assets worth more
than £255,000 (the current inheritance tax threshold), inheritance tax is potentially
payable on the second death. Inheritance tax is charged at 40%.
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