Wills
If you die without having made a will it is known as dying ‘intestate’. The intestacy laws where you reside will determine how your estate is distributed on death. Your estate includes any bank accounts, stocks and shares, property and other assets you own at the time of death.
If you die without making a will, in most cases, your property is distributed according to the intestacy rules and will be split between your “heirs,” which could include your surviving spouse, siblings, aunts and uncles, nieces, nephews, and distant relatives. Generally, when no relatives can be found, the entire estate goes to the state.
Why you should make a will
1) You decide how your estate will be distributed. A will allows you to determine how you would like your estate to be handled upon your death. This should help to minimize family disagreements about who should inherit.
2) You decide who will take care of your minor children. Having a will allows you to appoint the person you would prefer to raise your children.
3) To minimize estate taxes. Having a tax efficient will can help to minimize any taxes that may become payable on death.
4) You decide who will wind up your estate. The executors of the will are responsible for administering your estate in accordance with your wishes, so you will want to be sure to appoint someone who is honest, trustworthy, and organized (which may or may not always be a family member).
5) To avoid a lengthy probate process. All estates have to go through the probate process, with or without a will. Having a will, will normally speed up the probate service.
6) You can disinherit individuals who would otherwise stand to inherit. You may wish to disinherit certain people who would otherwise inherit your estate if you die without a will.
7) Make gifts and donations. It may be important to you to make gifts that reflect your personal values and interests.
Conveyancing
Moving house can be stressful. If you are thinking of moving house, talk to a specialist residential conveyancing team who are experts at making house moves go smoothly.
Whether you’re a first time buyer, selling or property investor, this service provides you with expert guidance, every step of the way. They understand that each transaction is different and everyone has different goals, worries and questions, so this is never just a standardised process.
This team of property specialists work hard to find the approach that’s right for you keeping you informed with regular and easy-to-understand updates. And all the while, they work towards your final goal of owning a property as quickly as possible.
Trusts
The use of trusts, whether in a lifetime settlement or in a will, can have great benefits in making long term financial provision and saving tax. Our specialist trust team can advise on the most favourable use of trusts, deal with their preparation and, if required, their administration.
The solicitor firm’s partners are also willing to be appointed as professional trustees if required.
Divorce / Family Law
Specialist advice is always personal, practical and tailored for you. Whether it’s adoption or cohabitation, divorce or securing contact with children, our team will work with you to map out a plan for the future and listen to your priorities and concerns.
They will clarify your issues and explore your options and find the approach that fits, acting as trusted advisers.
