Making a will
If you don’t make a will
Any person who dies without making a will is Intestate. This means that the rules of Intestacy made by the government will decide the division of any money or property owned by that person. These rules are very inflexible and may mean that the people whom you wish to inherit your property will not, and your estate may pass to others whom you did not wish to inherit.
Why everyone should make a will
You may think you are not wealthy enough but if you add up the total of your possessions, house and insurance policies, the total will probably be more than you expected.
A will is particularly important for anyone with children, especially if you are a separated or unmarried parent. A will is also necessary for anyone wanting to provide beyond their immediate family, for grandchildren, friends or partners for example and for anyone concerned about tax consequences after death.
All too often leaving no will could create yet another worry for your family at a time of bereavement
Using Rudlings Wakelam
Making a will is the surest way you have of providing for others after your death.
We are experienced, not only in drafting wills, but also in advising on important related matters of inheritance law, taxation, property matters, or family problems. We can therefore provide an expert and professional legal advice service when you want to make a will.
Trying to make a will yourself 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. It is also most important to ensure that a will is correctly witnessed.
Personal belongings often have a sentimental rather than monetary value. You may want to be sure that a certain heirloom will be passed on to a particular person.
Inheritance tax – Few people want to intentionally give money to the taxman. We can assist you through the intricacies of inheritance tax, helping you to minimise its effects, and explaining the various exemption and reliefs.
Nursing Home Fees – We can advise on the best ways to protect your assets in the event of your death from being used to meet any Nursing Home fees that your Spouse may have in the future.
Leaving money to charity- Some people want some 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 may also minimize inheritance tax liability).
Everyone’s circumstances can change- You should consider changing or making a new will every time your situation changes, for example, if you get married, become a home owner, if you inherit money, or your relationship breaks up. If you have already made a will, it is worth reviewing it with us every few years under our will review service.
Executorship: Rudlings Wakelam’s services
Your executor is the person who takes charge of administering your estate after your death. It is important to specify in your will who you wish your executor to be, to prevent delays in money being released to your family at what may be a difficult time for them.
If you do not have a member of your family or friends who can act as your executors we can provide professional assistance which your family may need by acting as one of your executors. Banks sometimes also advertise their executorship services- but banks generally charge up to 10 times more for their work and the fees cannot be independently assessed in the same way.