Wills And Estate Management: Don’t Leave Your Family’s Future Security To Chance.

We may all be getting older and living longer, but we still prefer to put off what we consider to be unpalatable.

Most of us refuse to think about making a Will. It’s understandable in many ways as it’s a tacit admission of our own mortality. We tend to associate Wills with older age. Never the less, we’ll all need to confront this issue at some stage in our lives, so isn’t it better to do it now? The alternative doesn’t bear thinking about. What would happen to your family? How would your children’s security be protected? If you die intestate a court may be legally obliged to distribute your assets in the manner which it deems fit, rather than in accordance with whatever wishes you may have had. Surely that’s a situation most of us would choose to avoid if we could.

Why should you use a solicitor to draw up your Will?

The greatest advantage of using a solicitor to draw up your Will is the peace of mind and reassurance it will bring you. It’s a great comfort to know that the solicitor will design your Will in precisely the way you want and ensure that all of your wishes are carried out after your death. A solicitor will ensure that no technical mistakes are made, and that no inadvertent disputes will be potentially stored up for the future. All solicitors are fully qualified and work under strict guidelines. This work is regulated by the Solicitors Regulation Authority.

When is it particularly important to use the services of a solicitor?

Do-it-yourself Wills can only ever deal with the simplest scenarios: in other words the black and the white issues. Unfortunately life is not black and white. There are also many complex shades of grey, particularly where Wills are concerned. That’s why it is vitally important to use the services of a qualified solicitor. Drawing up a Will is a highly complex and sophisticated procedure, so if you want to ensure that all of your expressed wishes are followed you really should consider employing the services of a qualified solicitor.

Estate management: when is a Will critically important?
  • Where you share a property with someone who is not your husband, wife or civil partner.
  • Where you wish to make provision for a dependant who is unable to care for themselves.
  • Where there are several family members who may make a claim on the will, for example, a second wife or children from a first marriage.
  • Where your permanent home is not in the United Kingdom.
  • Where you are a domiciled resident, but there is overseas property involved in the Will.
  • Where there is a business involved.
  • Where the estate is likely to exceed the inheritance tax threshold.
  • Where consideration needs to be given to trusts which could protect your property from future charges.
  • Where consideration needs to be given towards the effects of future inheritance.
  • Where consideration needs to be given towards Powers of Attorney.
  • Where there are likely to be issues and concerns about life policies.
  • Where there may need to be some thought given to the issues of guardianship if there are likely to be dependent children left behind.
  • Where decisions will need to be made about making monies available to the guardians of these dependent children.

The prospect of making a Will may not be particularly pleasant, but is the most important thing you can ever do for your family. A properly constructed Will guarantees that your loved ones will be looked after and cared for in the way you would want and expect.

For further information about Wills and estate management contact Harold Stock & Co solicitors on 01457 835597 or email info@haroldstock.com.

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