A Will is incredibly important as it portrays your wishes upon the unfortunate event of your passing. A Will’s significance stems from the fact that it details exactly where your money, personal belongings and any property (your estate) should be distributed and who to. Should you decide not to leave a Will, then in the unfortunate event of your passing, the rules of intestacy determine how your estate is dealt with. The important thing to note here, is that via the rules of intestacy your estate may be distributed in a way that would not be in line with your own wishes.
For example, you may be under the impression that if you pass without leaving a Will your partner will automatically inherit your estate. However, without being married this is not the case. If you did not have any children upon your passing, then in this instance, your entire estate would be left to your parents or other blood relatives over your partner which may leave your partner facing very difficult financial circumstances.
Not only is a Will important because it details your wishes, it is also important because it makes dealing with your estate much easier for your family. In the interest of helping your family, a Will also can provide for your children or other family members that are financially dependent on you, whereas the rules of intestacy may not. You can also stipulate gifts to people outside of the family within a Will which is in direct contradiction to the rules of intestacy as they state that where there is no surviving family left, your estate is to become property of the crown.
Here at Laker Legal Solicitors we acknowledge the importance of Wills and recognise that Will making can be quite a sensitive subject. We have therefore introduced an online Will making process whereby there is no need to meet a Solicitor face to face. Discussions can be had over the telephone as to your wishes or by email. If you are concerned about the rising cases of Coronavirus in the United Kingdom then no face to face contact with a solicitor is the perfect way to ensure your affairs are in order.
Another reason to take advantage of this option of Will drafting is that being an online Will, it attracts a much lower figure of £100 plus VAT for a standard Will or £150 plus VAT for mirror Wills.
A standard Will includes clauses relating to the appointment of Executors, details of your funeral wishes, the appointment of a guardian in the event that you would be leaving behind children, specific gifts that you may wish to make limited to a small number and details of the beneficiaries of your residuary estate (i.e. your estate after all specific gifts have been made). Anything other than the above will attract higher fees given the complexity of the Will to be drafted.
Should you require any further information or any clarity regarding the importance of a Will, then please do not hesitate to contact us here at Laker Legal Solicitors on 01524 753 040 and we will be more than happy to discuss drafting a Will to fit with your individual needs.
All information is correct on the date of posting.