Preparation of Wills
Making a will is one of the most important things you can do – after all it includes your wishes and instructions in determining how your most personal possessions and hard-earned savings will be shared among your close family and friends. However it is often a simple and inexpensive process. But failure to make a will can pose major difficulties for those left behind, for instance, disputes among family members or by having to pay more tax than necessary. Your estate – money, other assets and possessions – could be distributed according to legal rules rather than your wishes. It is particularly important to leave instructions in your will, if you own your own house and other landed property.
It is advisable to consult a solicitor before deciding what to include in your will. Your will can cover a range of issues, including:
- Who should inherit your property, money, other assets and possessions
- How your children should be cared for
- Who should be responsible for looking after your estate (the appointment of an executor)
- Special arrangements for your funeral, burial or cremation
- Charitable donations you would like to make
- How a solicitor can help in the administrative duties
Wills are often straightforward but some involve complicated arrangements and financial affairs, and have impact on issues such as inheritance tax – all the more reason to ensure they are drawn up by your solicitor. Even if your will is simple and you want to write it yourself, it is advisable to consult a solicitor to avoid pitfalls and ensure all the legal formalities have been followed correctly, otherwise it may be treated as invalid. Craig Murray and David Dewar can be contacted by email or phone to assist you.