A Will will identify how to dispose of your assets after your death and appoint persons to administer your estate to make sure that your wishes have been carried out. The Will can also minimise the effect of taxation, include express provisions about the disposal of your body and who you appoint as guardians of your minor children.
Without a Will a set of statutory rules are imposed which leave your estate to your next of kin in a fixed order. For example, a spouse and children would share an estate exclusively if they survived you but the spouse would only be entitled to a fixed statutory legacy and the remainder would be left in two trust funds partly for the benefit of the spouse and partly for the benefit of the children.
We can also make arrangements to ensure inheritance is received by the chosen party, alleviating any family disputes.
These fixed statutory rules do not provide for an unmarried partner, friends or charities you may have supported. In fact if you have no next of kin and do not leave a Will, then the whole of your estate will go to the Crown.
These same statutory rules also require specific people to act as the administrators of your estate whether or not they have the necessary skills. This could prove to be traumatic if for example you have been married before and have adult children from your first marriage and are survived only by them and by children from your second marriage. All of them would be equally entitled to act as administrators in your estate.
Making a Will is the only way of ensuring that your assets go to the people you want.
Broadway solicitors are experts in all areas of Will writing, from the simplest of Wills to the most complex estates involving the setting up of trusts and Inheritance tax planning.
We have a team of highly experienced Solicitors and legal executives who have a wealth of experience in writing Wills and they can help by giving advice on planning your estate and avoiding the pitfalls of a badly written Will. CONTACT US for a FREE no obligation consultation.