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Is Your Will Up To Date

Wills are always a difficult subject to raise.  People don’t like to dwell on morbid subjects and one’s own death is the most morbid of them all!

There seems to be a reluctance to spend money on Wills.   Probably because people regard it as “dead money”!  Certainly, you will not see the benefit in your lifetime.

Joking apart, making a Will through a solicitor, preferably using us, is vital.   Homemade Wills so often do not accomplish what was intended and end in family squabbles which cost a great deal more than the cost of making a Will.

Many people have such complex lives these days.  Children from an earlier relationship, couples not being married, the position of step-children, guardianship issues and he like.  Such situations call out for a Will to be made.  It is almost irresponsible when there are such complex family situations for someone not to make a Will.  We hear it so often “if only he’d make a Will.”

Then there is the question of health, mental health in particular, and at the same time as making your Will, entering into a Power of Attorney is important.  You do not know what events may make it vital that someone is able to deal with your affairs on your behalf.

The Law is complex, but those complexities become of relevance because people do not put their affairs in order, when they know that one day the inevitable will happen.

Do-It-Yourself Wills! DON’T DO IT!

 

Disputes relating to wills and estates continue to cause a lot of grief and expense to those left behind when some people die. The situation is almost always much worse when wills have been prepared by the deceased, and sometimes even when prepared by a lawyer who does not have the necessary training and experience.

Probate costs can start in the region of £2,500. However, the average cost of obtaining probate is probably in the region of £5,000 to £7,000, but disputes, usually between family members, can cost several times more than that.

An experienced lawyer will, in many cases, also be able to help your family save considerable monies in relation to inheritance tax and asset protection matters.

So – if you are thinking of making a will, get advice from an experienced Private Client solicitor. Don’t do it yourself!