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Why Make A Standard Will?
Many people assume quite wrongly that all their property and money will automatically pass to their loved ones when they die, but the truth is that if you don’t make a legally valid will the law deems you to have ‘died intestate’.
This can be distressing for your loved ones who may suffer financial hardship as a result, at a time when they least need it.
If you make a Standard Will before you die then the legal process in dealing with your affairs will be much easier (and therefore less expensive), and much simpler for your loved ones to cope with at a time when they will need as little extra stress as possible.
What Is A Standard Will?
Our Standard Will is suitable if your circumstances are simple.
- You may be married or in a civil partnership (without children) and want to leave everything to your spouse/partner when you die.
- You may be single.
- You may have children from your current marriage or relationship.
Our Standard Will is designed to make sure that your assets will pass easily and smoothly to the beneficiaries you want.
Our Standard Will allows you to appoint your spouse/partner as an Executor, plus other Executors of your choice.
Our Standard Will allows you to choose your spouse/partner to inherit and then pass the assets to your children.
However, you may not know if your situation is complicated until you discuss your wishes and circumstances with an expert. There may be situations when our Standard Will is not going to be able to meet your needs.
How Do I Know If A Standard Will Is Right For Me?
If you meet the criteria above a Standard Will is right for you and we will be delighted to write a will according to your instructions to meet your needs.
However, with the enormous rise in property prices, the cost of care fees and the complexity of family arrangements you may be unsure how straightforward or complicated your situation is.
In certain circumstances, our Standard Wills service may not be appropriate for the distribution of your estate. That is why our expert consultants take the opportunity to understand your needs, and give information on your situation, and taking your instructions. Our help is free of charge up to the point you decide to proceed with legal documents.
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What Are The Benefits Of A Standard Will?
You beneficiaries inherit your estate according to your wishes
By drafting a Standard Will, you are protecting your loved ones’ financial future and giving them peace of mind that they can respect your wishes when you pass away.
You minimise Inheritance Tax
An appropriately constructed Will can help minimise Inheritance Tax or even eradicate your liability altogether. We will advise you if a Standard Will is suitable for your financial circumstances.
You select appropriate Guardians for your children
If anything should happen to you and you haven’t appointed Guardians for your children in your Wills, and they are under 18, the courts will appoint someone on your behalf. Someone you may not wish to bring up your children.
You decide suitable gifts to other people and charities
You can specify money or possessions you want to leave to people beyond your family or to a charity that you hold dear. (Gifts to UK charities, for example, are exempt from Inheritance Tax.)
You appoint the Executors you trust
You decide who you want to take care of your affairs when you pass away. This should be someone you trust with the expertise to settle your estate legally, quickly and efficiently.
How Much Does it Cost to Make A Standard Will?
Our Standard Will is £150 + VAT.
For all our will writing services, including more intricate Trust Wills or Lasting Powers of Attorney, we will discuss your specific wishes and requirements with you first and agree the fee with you if you then wish us to draft the legal documents.
Ensure your will is legal
- Sign it in the presence of 2 witnesses who are both over 18.
- Have it signed by your 2 witnesses, in your presence.
- You cannot leave your witnesses (or their married partners) anything in your will.
If you make any changes to your will you must follow the same signing and witnessing process.
If your Will is not legally signed you may as well have not made one.
Ensure your Executors can find your Will
If your family or executors cannot find your Will after you have died, then you will likely die intestate. Find safe, secure storage for your Will and tell your family and Executors where it is stored.
If your Will cannot be found, you may as well have not made one.