last will and testament
What is a will?
A last will and testament is a legal document that instructs how a person’s property and assets will be distributed after their death.
It is also commonly referred to as a will.
In the will, the person, known as the testator, can specify who will receive their belongings and how much of their estate each beneficiary will inherit.
The will may also designate an executor who will be responsible for ensuring that the wishes of the deceased are carried out.
If a person dies without a will, their estate will be distributed according to the law of intestacy, which may not align with their preferences.
Why do i need a will?
Creating a last will and testament is an important step in estate planning.
It allows a person to have control over what happens to their assets after their death and can help to avoid conflicts among family members.
We recommend that you consult with us if drafting a will to ensure that it is legally valid and effectively communicates your wishes.
Who can make a will?
Anyone with mental capacity to do so who is at least the age 18 can make a will.
There is an exception to the rule for military servicemen on active duty or merchant seamen out at sea.
In this case they may make a legally binding will under the age of 18.
What happens if i die without a will?
Intestacy is the word given to dying without a will
If you die without a will then you die intestate, and your assets are distributed by the law of intestacy.
can i make changes to my will?
Yes. This can be done by codicil.
If you wish to discuss making a codicil then get in touch.
Depending on the complexity of your will, it may be better to simply draft a new one rather than change an old one.
how do i choose an executor for my will?
First and foremost it obviously needs to be someone you can trust.
But they also need to be someone that can handle the emotional pressure of the task at hand – remember that they will likely be mourning you.
It should not be someone who has been subject to bankruptcy proceedings.
There is no law against it per se, but their status may prevent them from performing some of their duties.
It should also be someone younger than you if possible. They need to outlive you to do their job!
What assets should be included in my will?
All assets you own should be included in your will.
However you should be aware that some assets do not pass under a will.
Firstly there are jointly owned assets – such as bank accounts and property.
Joint bank accounts pass by the rules of survivorship. This means that the survivor owns the account absolutely.
Property owned under a joint tenancy will also pass by survivorship – the deceased essentially disappears from the Land Registry leaving the survivor.
You can find out more about property ownership here.
Secondly there are trusts assets.
This can either be a trust that you have an interest in or a trust that you have set up yourself.
Trust law is a complex area of law and is beyond the scope of this article.
But if you wish to discuss anything regarding trusts then give us a call.
can i disinherit someone from my will?
Absolutely. But be mindful that it may not be final.
If you do this then you will probably appreciate that this will likely cause a dispute when you’re gone.
Does that individual happen to be a spouse, ex spouse, child, step-child, or any other individual that you were providing for at the time of your death?
Then they will be entitled to bring a claim on your estate in court.
But bear in mind that they are only provided the right to bring a claim.
They are not provided with an automatic win.
Nevertheless, you should think carefully before disinheriting someone.
do i need a solicitor to write my will?
No not at all. In fact anyone can write a will.
But this has resulted in a market for cheap online wills written by programs that are in the hands of people with no legal knowledge or training.
There is no guarantee of the validity of these wills and Brooks Legal has had clients with first hand experience of the problems they can cause.
Therefore, while not necessary, it is certainly best to approach a professional.
Brooks Legal is a member of the Institute of Professional Willwriters and the Society of Will Writers.
As such, we have strict codes of conduct to follow and we must stay up-to-date with changes in the law.
This assures that you receive a solicitor-quality service from us, at a more palatable price.
what is the difference between a will and a living will?
A will is a legal document that provides instructions on the distribution of your assets following your death.
A living will is a document that provides your decisions over medical treatment in the event that you lose capacity to make those decisions for yourself when needed.
can i revoke or cancel my will?
Yes absolutely. Just destroy it.
The most recent will that you make will be your valid will.
So you don’t actually need to destroy the old one.
But its best to destroy it, to avoid unnecessary disputes.
how often should i update my will?
There are many different life events that will occur that should prompt you to update your will.
This could be the birth of a child, marriage, divorce, purchase of property, the death of someone, or any other big life event.
We recommend reviewing your will every 5 years or so, if none of the above events trigger you to update it.
can i leave assets to charity in my will?
Yes you may.
If you give over 10% of your estate to charity then you will benefit from a reduction in Inheritance Tax on the remainder of the estate.
The rate reduces from 40% to 36%.
This is provided of course that the value of your estate exceeds the threshold for Inheritance Tax to be charged.
how can brooks wills help me?
Writing a will is something that many of us put off, often for years, but it’s an important task that should be taken seriously.
Without a proper will in place, your assets may not be distributed as you intended, or your loved ones may be left without financial security.
That’s where our will writing services can help.
We can guide you through the process of creating a will that reflects your wishes and ensures that your assets are distributed in the way you intended.
By making a will, you can ensure that your dependents are taken care of, your estate is distributed fairly, and your wishes are respected.
Our will writing services are comprehensive, affordable and completely confidential.
We understand that discussing sensitive matters such as death and inheritance can be uncomfortable.
As such, we strive to work with you in a compassionate and supportive way.
With years of experience in will writing, we can help you navigate the process as smoothly and stress-free as possible.
We give you the peace of mind that comes from knowing your affairs are in order.
