A valid up-to-date Will puts YOU in control
Most people acknowledge that it is important to organise their affairs in the event of their death, but unfortunately about 70% of people pass away without making a Will.
Everyone with children or with assets over £5,000 should have a valid up-to-date Will.
A lot of people worry about making a Will because they find it difficult coming to terms with their own mortality.
We all know we are only mortal, so it may help you to view making a Will, merely as sensible financial planning.
Estate Planning starts with having a Will that reflects your current circumstances and meets your current objectives. It should be reviewed and updated regularly.
Having a valid Will means that your wishes are known and are, therefore, likely to be respected.
There are many misconceptions about Wills, or not having a Will ….
Just click the + to reveal the right answers
I made a Will before I married, so I don’t need to do anything
This is not correct. A Will is automatically revoked by marriage.
I don’t need a Will. My spouse/partner will inherit everything automatically
Unfortunately, this is not correct – see intestacy below
I already have a Will so won’t need to do probate
This is not entirely correct – it just makes it easier & cheaper.
I already made a Will, so I’m ok
Not exactly. Your Will should be reviewed every 3-5 years to capture any changes in circumstances and objectives
Having a Will Allows You To;
- Choose your own Executors and Trustees
- Choose the people you would want to act as Guardians
- Make gifts of specific items to chosen family members and friends
- Protect a young person’s inheritance
- Protect the family home from sideways disinheritance, where your chosen beneficiaries could be bypassed
- Double the Inheritance Tax allowance for unmarried couples (partners) saving up to £130,000
We send draft Wills to all our clients for approval and visit you at home to ensure you are happy and fully understand it.
We then supervise the signing and witnessing of the Will. This ensures it is valid and does not cause a problem at a time when it is too late to do anything about it.
Bespoke Legal Services can provide you with a Will for just £200,
or substantially less, if you purchase it as part of a plan.
Intestacy – What will happen if I don’t have a valid Will?
If you do not have a valid Will, the Laws of Intestacy always apply. This means;
The state makes a Will for you and it will not be the one you would have made for yourself.
As a consequence you will face the following issues;
- A legal professional must be used, charging up to around £250 an hour
- Costs could be between 2 – 4% of your total estate value
- There will be additional delays because the process is more complicated
- Distribution is pre-defined and inflexible. People you want to benefit will get nothing. For example, an unmarried partner of 20 years has no right to anything!
- If you have children under 18, A Court will decide what happens to them. (Most people write their first Will to appoint legal Guardians)
Contact Us To Find Out More About Wills
Head Office : Bespoke Legal Services Limited, Pantiles Chambers, 85 High Street, Royal Tunbridge Wells, Kent, TN1 1XP Company Registration Number: 9598287
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