Making a Will made clear
Making a Will is one of those things that many people put off doing. Making a Will is not complicated and is a way of giving you control over what happens to your assets when you die. Newbys solicitors will ensure your Will is properly drawn up, that it fully reflects your wishes and that it is executed properly and in accordance with the law.
Why do I need a Will?
A correctly drawn-up and regularly reviewed Will is an inexpensive way of putting you in control of the final destination of your estate and making sure you avoid difficulties for your relatives and friends after your death. It can include your wishes concerning funeral arrangements; ensure your possessions go to the people you want (rather than following the official legal ‘Rules of Intestacy’); can help to prevent your spouse, civil partner or family having to sell their home to pay the Inland Revenue or other beneficiaries; ensure that “common law” partners are legally recognised as beneficiaries; contain details of trusts and care arrangements for children, should you die and; specify people who can be trusted to sort it out and put your wishes into practice.
Why do I need a solicitor for a Will?
Wills are not always straightforward. This might be because the value of your estate and there are all sorts of different ways of ensuring that you wishes are set out properly to achieve exactly what you want.
What is an executor?
You do need to appoint executors. They will be responsible for administering your Will after your death. It is their job to collect assets, pay any debts, outstanding liabilities and then to distribute your estate in accordance with your wishes. You can appoint as many executors as you wish and they can also be your executor. Most people appoint two executors and it is sensible to ensure that they are happy to act. You can even appoint a professional executor and partners from Newbys will be happy to assist so as to ensure that your family are not faced with the daunting prospect of carrying out legal work on your behalf.
How much will it cost?
For all the benefits and peace of mind a Will delivers, making a Will is not expensive. We are better able to advise on costs accurately once we know your specific requirements. Our solicitors will ensure your Will has been drawn up correctly and properly executed, thus avoiding future problems for your loved ones and avoiding additional costs to your estate after your death.
How do I best preserve my wealth?
Making a Will is the first step. We can help structure your affairs to minimise liability for inheritance tax and can provide a full range of advice tailored to your specific needs.
What is a lasting power of attorney?
This is a document by which you appoint someone to act on your behalf in case, in future, you are unable to manage your own affairs. Your attorney will also be able to assist in making important decisions concerning your welfare and health. If you have health worries or as you become older you may to consider granting someone you trust a lasting power of attorney. If you are over 18 and have full mental capacity then you can make a lasting power of attorney at any time. This lasting power of attorney can be revoked at any time provided that you still have full mental capacity.
What is court of protection deputyship?
If you or one of your relatives is unable to manage your own financial affairs that there is no lasting power of attorney in place then it may be necessary to apply to the Court of Protection to appoint a deputy to manage matters. We are able to help you understand the process. We can complete the necessary paperwork, obtain the necessary medical evidence, lodge the application, arrange for any required insurance and implement the court orders. We can also act as your deputy, or your relative’s deputy should you require it. If a deputy is appointed Newbys Solicitors are able to assist with any aspects that might arise under the terms of the deputyship.