Kelly Grealis, Solicitor in our Private Client team explores common questions we get asked about Wills and why you should make and review one regularly.
1. Why should I make a Will?
Making a Will is only way to ensure that your home, money and personal belongings are passed on to your family and friends exactly how you want.
Other reasons include:
- Choosing your Executors, only through your Will can you appoint the persons of your choice to carry out the administration of your estate, this includes arranging your funeral and collecting your assets.
- Appointing your chosen Guardian for any minor children.
Without a Will, your estate would be considered intestate and your estate will be administered according to the intestacy rules which can result in the distribution not being in accordance with your wishes.
2. Can I make a Will myself?
Wills are important legal documents and it is vital that they are accurately prepared so they reflect your wishes.
A poorly drafted Will can result in unnecessary expense and can cause disputes among beneficiaries.
Our team have a wealth of experience in advising on Wills and the surrounding issues, our team includes members of the Society of Trusts and Estate Practitioners, Solicitors for the Elderly and the Law Society’s Private Client Section. We will discuss your Will with you in detail and suggest ways to ensure your wishes are achieved.
3. What is involved with making a Will?
In the first instance we would meet with you to discuss what you would like to include in your Will. Here we would ask you to think about:
- Who you would like as Executors
- Any Specific Funeral Wishes you have
- Guardians you would like for any minor children
- Are there any specific gifts you would to make
- Who is to receive the rest of your estate
We would also discuss what should happen should your spouse/partner/children die before you or at the same time.
4. How often should my Will be reviewed?
It is advisable to review your Will every five years or upon any significant life events such as marriage, birth of children, death of a close family member, change in financial circumstances or divorce.
5. Can I make changes to my Will?
Once you have made a Will you can make small changes by adding a Codicil that will then be read together with your Will, if you are making substantial changes then it is best to have a new Will prepared.
6. Where should my Will be kept?
Your Will should be kept in a safe and secure location, we offer our client’s free lifetime storage within our strong room.
Important things to note when making a Will
Marriage has the effect of revoking any pre-marriage Will, if you have married you will need to prepare a new Will. Divorce does not revoke a Will but your ex-spouse is treated as though they had died when your divorce took place. If you and your partner are not married without a Will your partner would not be automatically entitled to anything upon your death.
Should you have any questions or to find out more about our services, please contact the team.