WHY YOU SHOULD MAKE A WILL?
It is important to make a Will whether or not you have many possessions or much money. It is the only way to secure financial support for the people or charities you care about. If you don’t make a Will, the state governs who inherits your assets and how your property and possessions will be distributed according to the law, instead of your wishes.
If you have children under 18 when you die, with a Will you have the right to choose their legal guardian and set up any Trusts for your children’s benefit and avoid potentially hefty legal costs.
Although the process of making a Will can seem daunting, it’s easier than you think. At SC Law our lawyers aim to make the process simple and straight forward for you. Through our associate company we also offer tax planning to try and reduce the amount of inheritance tax you may have to pay.
We offer competitive fixed fees for single Wills at £200, plus VAT. For mirror Wills for a husband and wife, we offer a reduced fee of £380, plus VAT, if completed at the same time.
It is important to make a Will if you are not married or in a registered civil partnership, because the law does not give the same rights as married couples.
If you already have a Will it is important to have it reviewed periodically, to reflect any major life changes, particularly once you get married, have children or get divorced.
It is recommended to use a solicitor to prepare your Will, as various legal formalities need to be complied with to ensure that it is valid.
If a Will is not prepared correctly, there’s a risk a mistake could be made that could cause problems for your family and friends after you die and the Will may be contested.
If you own your own business, you can decide who will take over and how your business will continue.
If you don’t leave a will
When you die your money and possessions will not be distributed according to your wishes. The government directs who gets what and how much regardless of your relationship. In addition:
If you have children, the spouse may inherit most of the estate and your children may get nothing.
Unmarried couples and partners who haven’t registered a civil partnership are not entitled to anything, so the death of one partner may create serious financial problems.
Any inheritance tax payable may be higher than if you had made a Will.
If you have no living close relatives, your whole estate will pass to the crown.
You will not be able to leave anything to any charities you may have wished to.
If you re-marry or enter into a new registered civil partnership, this will make any previous Will you have made invalid.
If you have separated and your ex-partner now lives with someone else, you may want to change your Will.
Contact SC Law today to avoid leaving your loved ones with nothing.
Authorised and Regulated by the Solicitors Regulation Authority: SRA Number 518688 SC Law is a trading name of SC Law Solicitors Limited. Registered in England and Wales.
Company number 06860473.
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