There are many questions we get asked by our clients about Wills, take a look below to see if you can find the answer you are looking for.
Can’t find the answer to your question? Contact us today for advice.
I am single do I need a Will?
The simple answer is yes. If you want to ensure that your assets pass to the people of your choice and not leave things to chance everyone should have something in place even if it is straight forward.
A will professionally put together will provide the legal document required to ensure that money, assets and possessions pass to family or friends of your choice.
The alternative is to leave things to chance, even then dying intestate (without a will) takes so much longer for your family to sort out and it will without doubt cost a lot of money in the long run for the estate to pass.
Can I leave a gift to Charity in my Will?
Did you know that many people would like to leave a gift to Charity in their Will? Consideration has to be given to this and care needs to be taken.
For example; if the gift to be given free of any potential inheritance tax that falls within the estate, the charity needs to be recognised with a registration number.
Also think about the impact of leaving a large sum to a charity on the rest of the family, the intended beneficiaries. There have unfortunately been several court cases that have been brought about by families challenging the way that charities have been left large sums of money, and vice versa, and there have been questions about the way the gift was intended by the testator (the person who made the Will).
This can be avoided by having the will drafted by a professional Will drafter. We can help and give advice in this area.
We want to buy a House, do we need a Will?
When people are starting out and decide to take the leap and buy their first home, it is the right time to look at all their finances.
This includes adding a Will to their tick list of important things to have in place.
Depending on how the house is being purchased, this may pass automatically to the spouse by the survivorship law should there be an untimely death.
However this is not always the case and we can advise on the best route forward.
In any event you are now on your way to owning a substantial Asset and very soon you will have more items of value as well as savings.
Therefore, providing good solid advice is essential in having wills drawn up early to give you both the peace of mind required.
Don’t leave it and put it off until old age it really is not worth the risk. Never put off until tomorrow the important things that you can do today.
We have a Family, is this the time to make a Will?
If you have not already done so and you now have a family then yes it should be a priority to have Wills in place.
You need to consider how you would like your Assets to be distributed should there be an untimely death. You should consider the guardianship for the young children as an absolute priority.
You need to protect the children and therefore consideration needs to be given as to what age they should be able to receive their share of the estate and the important decision about appointing Executors
Executors are personal representatives, these are the people who carry out your wishes and have a legal obligation to do so.
Our services extend to providing a simple guide for the executors appointed which explains their duties and how they can rely on us to help guide them should they ever need support, and of course this includes yourself or your spouse who are also first line executors.
My child is disabled, what kind of Will do we need?
With a disabled child, more protection needs to be considered by way of a Disabled Trust.
By setting this up early and contained within a will it ensures that the Trustees appointed are able to provide for the child at a time when he most needs funds, this may be at any time during his or her lifetime.
For example; A child may need financial support for a school trip or as an adult there may be a requirement for a suitably equipped car for him or her to drive which requires some contribution to help pay for it.
By setting up a Disabled trust in your Will, should anything happen to you – you will have the peace of mind knowing that you have set up a facility that will ensure your child can have access to funds, with the help and direction of the Trustees without affecting his or her on-going disabled benefit’s.