Making a Will
Making a Will
Your Will is a very important document that dictates what happens to your money, property and possessions when you die. If you want to be sure that when you die your wishes will be taken care of then making a Will is essential.
Why you should make a Will
If you were to die without having a valid Will you will not have a say in what happens to your money, property and possessions – your estate, after your death. Instead your estate will be distributed in accordance with the Laws of Intestacy.
Without having a Will you cannot be sure that the people who you wish to benefit from your estate will in fact benefit after your death. Deciding who you want to benefit from your assets now can help avoid later upset or disputes between relatives. By leaving a Will you are removing all doubt about your wishes and who you want to leave your assets to.
It is especially important to make a Will if you have young children or other family members who depend on you financially. By making a Will you can ensure that these individuals are provided for should you not be around to care for them anymore.
It will also make matters much easier for your friends and family, when having to deal with your estate. You can decide who you would like to be in charge of administering your estate once you have passed away, this person will be your Executor. This should be someone you can trust implicitly for example a family member, close friend or solicitor.
By making your Will with W H Matthews & Co. you can be sure that the Will is legally valid and your wishes will be taken care of wherever possible. It is important to note that it might not always be possible to follow your wishes – for example an item bequeathed in your Will may no longer be in your possession or a person who you have bequeathed an item to in your Will may have died before you. It is therefore extremely important that you keep your will updated.
When you should update your Will
We recommend that you review your Will every 3-5 years to ensure it still meets your needs. We also recommend you review your Will should there be any changes to your circumstances. For example:
- If you get married – your Will is automatically revoked unless it has been made specifically in contemplation of your marriage.
- If you get divorced – It can take many months for divorce proceedings to reach their conclusion and as such you should seek to amend your Will as soon as proceedings begin.
- If you have children or grand-children who you wish to benefit
- If you have brought a new property or recently obtained other expensive assets
- If your financial situation has changed significantly for better or worse
- After the death of a partner, spouse or other significant family member.
- If you have recently started a business – This is especially important in order to determine who deals with the business on your death. You may wish to consider appointing a Special Executor solely for this purpose.
You may decide you would like to make a legacy to a Charity which is particularly important to you.
Why you should use a Solicitor
Making a Will without legal assistance can lead to mistakes and uncertainty and could mean that your Will is invalid. By using a Solicitor you will have peace of mind that when you die your wishes will be taken care of in accordance with your Will.
The law surrounding Wills and Inheritance is complicated and as Solicitors we can advise you of the law and your options to ensure that your estate is dealt with as you wish. We can advise you on the suitability of Will Trusts for your particular situation and advise you of the current Inheritance Tax position and how this will affect your estate.
If your family or financial situation is complicated or if you own a business we would strongly advise you to seek legal assistance when drafting your Will to avoid any errors. If you were to draft your own Will and after your death this were found to be invalid, it could have disastrous consequences for the people you leave behind.
We can also discuss with you the suitability of your chosen executors. Your executors will have to deal with financial matters which may be complex and they may have to take on this duty long term if Trusts are involved. W H Matthews & Co are also willing to act as executors for our clients and we can discuss with you what this would involve. If you instruct us to write your Will we will also store your Will for you in a safe free of charge.
No matter your age or circumstances it is important not to put off making your Will and with our help the process can be quick and simple.
Please contact W H Matthews today to book an appointment with one of our Private Client Solicitors –
Telephone us: 020 8642 6667
Email us: firstname.lastname@example.org
Or Write to us: 11 & 13 Grove Road, Sutton, Surrey, SM1 1DS
If you are unable to attend one of our offices and require a home visit please let us know when contacting us to see if arrangements can be made