Making a will is one of life’s essential personal and financial actions. Your will means that you provide for your dependents when you are no longer around. It ensures that your assets are distributed as you would wish. Yet surveys consistently show that between 50 and 60 per cent of British people fail to make a will.
Where there is no will (or a badly drafted one) your loved ones may face the stressful, expensive and time-consuming process of resolving financial issues or disputes, at an already difficult time. For example, if you die without making a will, the laws of intestacy mean that a cohabiting partner with whom you have lived for many years will inherit nothing from your estate.
If you have young children, making a will is important to establish arrangements for their care when you are no longer around. An expertly drafted Will is crucial to minimising your tax liability on your death.
We will explore the options available to you and prepare a clear, professionally drafted document. The aim is to ensure that your estate is distributed as you have instructed, without the potential for dispute and emotional family conflict. In drafting your will, we can advise on trusts and other ways to minimise potential inheritance tax and capital gains tax.
If you wish, we can also act as your executors, dealing with obtaining grants of probate or letters of administration.
We can draft documents that allow youto have your say and pass responsibility to someone youtrust.
Read our brochure Control over your future if you are left mentally unable to make decisions because of an accident or illness for more information about:
- Lasting Powers of Attorney (Property and Affairs)
- Lasting Powers of Attorney (Personal Welfare)
- Advance Decisions (often known as Living Wills)
Without a Property and Affairs LPA there may be no-one with legal authority to make decisions about your financial affairs. If you are in hospital for any length of time or have lost mental capacity, your bills could go unpaid. Family or friends would have to apply to the Courts for authority to act for you. The application is costly and time consuming and may not ultimately reflect yourwishes.
Where there is no LPA, you may need to apply to the Court of Protection, for example so that it can decide on someone’s capacity to make a particular decision or for the court to make a decision about someone’s property. We can advise and represent you in proceedings in the Court of Protection as well as acting as your professional deputy if necessary.
Making a will
- Drafting and amending
- Administering the estate
- Post-death variations
Inheritance tax planning
- Advice on inheritance tax mitigation
- Lifetime gifts
- Post-death variations
- Setting up and restructuring trusts
- Courts of Protection
- Funding of care
- Moving into sheltered accommodation
- Lasting Powers of Attorney
If you would like more information about our wills, tax planning, probate and trusts legal advice and services, please contact:
Davey Law Limited is Registered in England and Wales under Company no. 07525008. A list of directors is available for inspection at the registered office 10-12 Dollar Street Cirencester Gloucestershire GL7 2AL. This firm is authorised and regulated by the Solicitors Regulation Authority no. 557291 and is a member of the Conveyancing Quality Scheme (CQS). Details of how to contact the Legal Ombudsman in case of dispute may be found at www.legalombudsman.org.uk