What to consider when writing or making a Will

If you decide to make a Will, it is important to consider what you want to happen when you are no longer here. We advise on all of the key decisions thatyou will need to consider when making a Will. If you decide to make your Will with us we offer comprehensive information and advice. This ensures that youare fully informed and are clear on your decisions.
The key areas of consideration when making a Will are as follows:
1. What you own, i.e. your property and possessions;
2. Who you wish to benefit, i.e. your Beneficiaries;
3. Executors;
4. Who will look after your children, i.e. Guardians;
5. Who will look after your pets;
6. Who will manage Trusts, i.e. your Trustees
7. Inheritance Tax; and
8. Leaving a gift to charity.
Making a will is not something that we all do regularly as part of our daily lives. Statistics shows that seven out of 10 people die without having a validWill. Any person over the age of 18 and of sound mind (having appropriate mental capacity) can draft his or her Will.
Making a Will is not about you and will not be of any benefit to you, but will be of utmost importance and benefit to your loved ones that are left behind.For example once all of your liabilities have been accounted for, such as outstanding loans or overdrafts, your remaining assets will not automatically goto your current spouse if you are without a will. The worst-case scenario is if you die single with no children. In this instance, and in the absence ofany other surviving relatives, your entire estate and possessions are likely to be passed to the Crown under “Intestacy Rules”.

 

 

Contact us about your probate matter 02071830084 or email probate@olaleslie.com

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