Last Will & Testament
People assume that if they die without a Will their partner will inherit their Estate, this is not necessarily the case. If you die without a Will you will have died intestate. The Courts will effectively write your Will for you. They will demand that your Estate is distributed in accordance with their own strict rules. This can mean that your assets do not go to the people that you want to benefit, but instead they may go to the people you did not want to benefit.
If you die without a Will the probate process can be much longer, more complicated, more expensive and more distressing for the people you leave behind. This can leave your family with a financial and legal mess. One of your children or an ex partner could legally challenge your partners right to inherit your Estate.
Having spent a lifetime working to build up your assets, you should be in control of who inherits it. It is worth spending a few minutes and a few pounds, to protect those you care about most.
By making a Will you control what happens to your Estate after you die, it may even be possible to reduce the amount of inheritance tax your family pays.
Many people try to save money by writing their own Will or buying a cheap DIY Will packs from a stationers or online. This is a false economy, as probate Solicitors confirm they earn far more from sorting out incorrectly drafted Wills than they do from selling professionally drafted Wills. If you make a mistake in your Will, your beneficiaries pay the price. If an insured professional makes an error, their Professional Indemnity Insurance will cover any loss to your Estate.
It is important to take a number of different factors into consideration when deciding how to draft your Will. These include the laws relating to taxation, property law, succession, family law and social care. It takes years of study and many hours of ongoing training each year to keep up to date in these areas. Therefore, it is important that your Will is drafted by an insured professional.
Failure to provide flexibility within a Will to cater for changes of circumstances in the future and can lead to a significant financial loss to beneficiaries. Millions of pounds are lost each year because people fail to make an appropriate professionally drafted Will.
We provide professionally drafted and fully insured Wills at very reasonable prices.
34 Clarence Street, Southend-On-Sea, SS1 1BD
Telephone: 01702 414 100