Making a Will is the only way to ensure that your wishes are carried out after your death. The importance of this cannot be overstated and there is no substitute for taking proper legal advice from a solicitor. Some people attempt to prepare their own Will. This frequently leads to unintended and costly consequences. If you have not made a valid Will, your estate will be divided according to the laws of intestacy and this may not be what you would have wished. It is particularly important to have a valid Will as family arrangements today tend to be more complex than in the past. Many people are choosing not to marry and many have extended family circumstances. Given that the laws of intestacy are based on a traditional family model they do not adequately reflect modern trends.
The costs and time involved in dealing with an intestate estate can also increase significantly in comparison to dealing with an estate where the deceased had a Will. This can increase the stress and worry for your family and the potential for disagreement.
A Will can be amended at any time prior to death, as long as you have capacity. Certainly a Will should be amended to reflect any changes in circumstances and should be reviewed every few years.
For most, the preparation of a Will is a straightforward and relatively inexpensive process. We can also arrange expert advice on Inheritance Tax mitigation and Personal Taxation where relevant. We also offer a free Will storage service within our Saltcoats office.