Wills
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The team
- Chris Reynolds: Wills, Probate and Inheritance Tax Planning
- David Garsed: Wills, Probate and Inheritance Tax Planning
- Deborah Kaye: Wills, Probate and Inheritance Tax Planning
- John Fryer: Wills, Probate and Inheritance Tax Planning
- Mike Roberts: Wills, Probate and Inheritance Tax Planning
- Rachael Sykes: Wills, Probate and Inheritance Tax Planning
- Natalie Lang: Wills, Probate and Inheritance Tax Planning
- Heather Nuttall: Wills, Probate and Inheritance Tax Planning
A Will is a legal document, which comes into effect when you die. It sets out what you want to happen to your assets after your death and should reflect your current circumstances. If you die without making a Will, your assets will be divided according to the law, regardless of your intentions. Your assets may even end up going to the Crown.
By making a Will you will have the satisfaction of knowing that your assets will be passed on to those whom you wish to benefit, such as members of your family, friends or charities.
The law relating to intestacy does not recognise common law spouses or step children. If you die intestate, your common law spouse or stepchildren will get nothing.
Administration of an estate is often complicated and dying intestate will only put further stress on those who are left behind. The legal process is more involved and therefore more expensive. Administering an estate requires knowledge of the laws of Property, Succession and Trusts, as well as the implication of Inheritance and Capital Gains Taxes. Our experience enables us to administer the estate quickly, efficiently and without complication.
The cost of making a Will is relatively inexpensive, especially when compared to the problems, which could be caused if you die without making one. We urge everyone to make a Will.
When you die, your estate will need to be properly administered. If you have left a Will, we will need to apply for a Grant of Probate from the High Court of Justice. Probate is a legal term for the document issued by the Court as official evidence of the authority of your executor(s) to deal with your affairs after your death.
Your estate also needs to be properly administered, which involves identifying all your assets and liabilities, filing a final tax return, completing the Inland Revenue inheritance Tax requirements, dealing with the legal ownership of your property, identifying all potential beneficiaries and finally, distributing your assets in accordance with your Will. If you die without making a Will, your assets will be distributed in accordance with the Law and not in accordance with your wishes.
Administering an estate requires knowledge of the laws of Property, Succession and Trusts, as well as the implication of Inheritance and Capital Gains Taxes. Our experience enables us to administer the estate quickly, efficiently and without complication.
To speak to us about maximising the benefits of your estate, please contact Chris Reynolds today.