Wills and Codicils

You should consider making a Will to ensure that your estate is dealt with by someone you trust and that your assets pass to the people you wish to benefit from your estate. If you have young children you can also appoint guardians in your Will.

When you make a Will you can also make sure that you take advantage of Inheritance Tax planning as well as care home fees and the protection of assets.

If you did not make a Will then your estate will pass under the laws of intestacy and this may mean that it passes to people who you do not wish to benefit from your estate. If you had no living relatives then your property will pass to the “Crown” rather than benefitting people or charities of your choosing.

When making or reviewing your Will
you need to consider the following points:-

  • Who do you wish to appoint as Executors
  • Do you wish to appoint substitute Executors in case your original choice becomes unable to act for you?
  • What is the value of your assets? This will then give an indication of the size of your estate and whether you will need to consider inheritance tax planning.
  • Do you have any specific gifts that you wish to give to people or charities ie money, objects/ornaments/items/pictures etc?
  • If you have children who do you wish to appoint as their guardians?
  • Do you have any specific funeral wishes, ie cremation or burial?
  • Who do you wish to ultimately benefit from your estate and what would you want to happen to their share if they should unfortunately predecease you?

If you already have a Will you should review it at least every 3 to 5 years and definitely will need to update your will if you have experienced such occasions as marriage, divorce, separation, having children, the loss of a partner/spouse or person named as a substantial beneficiary in your Will. If your estate has increased in value you will need to consider inheritance tax planning and should update your existing Will.
If upon reviewing your Will only small changes are needed to be made then this can be done by way of a Codicil.

To book an appointment call us on 01626 33 33 80 or complete our Request a Call Back form and we will call you back, at a time to suit you, free of charge.

aopilAssociation of
Personal Injury Lawyers

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