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Wills

Making a will - our service Make a Will with Livingstons

Making a Will is the surest way anyone has of providing for others after their death. We are experienced not only in drawing up Wills but in advising on important related matters of law - inheritance laws, taxation, property matters or family problems. We can therefore provide the broadest professional legal advice when you want to make a Will.

A will clearly states your wishes for the administration of your estate on death, however there is a real risk of becoming unable to manage your finances and affairs during your life. Dementia, accidents and strokes are just some of the risks affecting us all. In order to protect your financial affairs it is important to take steps now to ensure the people you choose will be responsible for the management of your affairs.


Avoiding the pitfalls
Trying to make a Will alone can be full of pitfalls. Many words and terms have specific meanings in law which are different from their everyday use. Home-made Wills do not always mean what the writer thinks they do. And it is also important to ensure that a Will is correctly witnessed.

Sentimental belongings
You may want to be sure a certain heirloom - perhaps worth little financially - will be passed on to a particular person.

Lasting Power of Attorney

A Lasting Power of Attorney is a legal document which allows you to appoint someone (‘an attorney’) you trust to manage your affairs and make decisions on your behalf. Attorneys can make decisions for you when you no longer wish or when you lack the mental capacity to do so. This can include paying bills, collecting income, selling property and managing investments subject to any conditions or restrictions you choose to include.

If you have not made a Lasting Power of Attorney, in the event of becoming incapable, an application must be made through the Court by someone ( who may not be the person you would have chosen) for an order allowing them to manage your affairs. This process can be lengthy and expensive.

If you wish to make a Lasting Power of Attorney please contact Simon Hollis or Deborah Yearnshire to discuss your requirements.

Inheritance tax
Few people intentionally leave money to the tax man. We can steer you through the intricacies of inheritance tax, helping you minimise the effects, and explaining the various exemptions and reliefs.

Leaving money to charity
Some people want any money ‘left over’ to go to charity. It is essential to be very specific about this in your Will or your intentions may not be carried out. (Leaving a sum to charity can also minimise tax liability.)

Everyone’s circumstances can change
You should make a Will every time your situation changes; if you get married, if you become a home owner, if you inherit money, or if your relationship breaks up. If you have already made a Will it is worth reviewing it with us every few years.

Executorship - our service
Your executor is the person who takes charge of administering your estate after death. It is important to specify in your Will who your executor is to prevent delays in money being released to your family at what may be a difficult time for them.

You may think you are not wealthy enough to make a Will. But if you stop to add up the value of your house, car, shares andinsurance policies - the total is probably more than you realised.

A Will is particularly important for anyone with children, especially if you are a separated or an unmarried parent. A Will is also necessary for anyone wanting to make provision for those other than their immediate family and for anyone concerned about tax consequences after death.

In certain cases, intestacy may not be a problem for those you leave behind. But all too often, leaving no Will could create yet another worry for your family at a time of bereavement. Making a Will is a way of making life easier for them.

We can draw up your Will and one or more of our Directors can act as your executor if you so wish. Banks also advertise their executor services, which may be appropriate in some circumstances - but bank charges for acting as executor are high and are not open to challenge or independent assessment in the same way as solicitors' fees.

Contact Simon Hollis or Deborah Yearnshire on 01229 585555

 

 

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