A Will decides who inherits your money, propertyand possessions. Who inherits your estate will be decided by the Law of Intestacy (1925) and as you can imagine they are unlikely to divide your assets in the way you would choose. By making a Will you can decide exactly who gets which assets and how much.
I have been living with my partner for years, but we are not married, Do I still need to make a Will?
If you and your partner are not married or legally united in a civil partnership, your partner will not be automatically entitled to any of the assests owned in your sole name when you die - no matter how long your relationship has been - unless you make a will. Instead, your estate will be [...]
The Process is easy as there are three main requirements for a Will to be legal. It must be in writing. Telling a friend or anyone else what your intentions are is certainly not good enough. You must sign it. When you sign it, there must be at least two other people present to witness [...]
They must be over 18 years old, of sound mind, and able to see; but apart from that there are no restrictions. However, witnesses - and their spouse or civil partner - are not allowed to benefit under a will. Be sure to ask someone that can be traced to witness your will, be sure [...]
Your executors are the people who make it all happen meaning carry out your wishes after your death. Among other things, they have to: apply for a 'Grant of Representation' from the Probate Registry notify the bank(s), pension agencies, solicitor, utility companies, and other relevant parties arrange your funeral and pay for it (the money [...]
You can name as many executors as you like in your will, though the maximum number who can apply for probate to administer your estate is four. It makes sense to have at least two or three, in case any of them pre-decease you or later decide they do not want to (or cannot) act [...]
Yes, you can leave a legacy gift of a valuable item or a specific amount of money to any Charitable Organisation in your Will. Any charitable donations you make in your Will are free from Inheritance Tax.
Within the Will you can make it known what your wishes for your funeral will be, for example, whether you want to be buried or cremated, where you want the funeral to take place, and whether you want flowers or nor or any specific hyms or readings. Or whether you want a specific colour to [...]
Your will remains valid but any provision in favour of your former spouse ceases to apply once the divorce is finalised. You should draw up a new will. Bear in mind that your spouse remains a beneficiary until the 'decree absolute' has been granted - so you might want to draw up a new will [...]
The cost of making a will is generally quite fair, although it does depend on how complicated the provisions are, or whether you have different trusts added. Ask for an estimate of the cost based on your requirements before you start.