A Will saves – time – distress – uncertainty – disputes – even tax.
A Will can:-
Appoint executors who have the legal duty to collect together your property, pay your bills and other obligations and distribute your estate in accordance with the Will. This does not have to be someone legally qualified but needs to be someone that you trust to carry out your wishes.
Give legacies (gifts of money) or bequests (gifts of specific items) to family, friends or charities.
Set up trusts for children or grandchildren, or to deal fairly with the problems caused by difficult or complex family relationships.
Save inheritance tax on your death by arranging your affairs to maximise your tax allowances
Appoint guardians for children to look after them in the event that something happens to you
Do you know what will happen to your property if you haven’t made a Will? Wouldn’t you prefer to decide for yourself?
If you do not have someone whom you wish to appoint as an executor, or if your affairs are complex or you anticipate problems, you may wish to consider appointing the partners of Mackarness and Lunt to be your executors.
For details as to how to deal with the estate of someone who has died, please read the details of our Probate services section.
Why have a Will?
There is generally complete freedom to dispose of your property exactly as you like. However, there is the possibility of a claim after your death by a dependant who is not provided for. The majority of husbands and wives with children each leave everything to the other and then to the children in trust until they reach a certain age. You can name legal guardians for the children as well as appointing executors (the people who deal with your affairs after your death).
If you don’t draw up a Will, the law dictates what happens to your assets after you die. This may not give you the result that you expect and leave your affairs in a way which would be contrary to what you would want to happen. This can be particularly upsetting for those concerned and may cause conflict within the family at a very difficult time.
A properly drafted Will should provide for most eventualities but it can be changed at any time provided that you have mental capacity to do so. We recommend that you review your Will periodically and when life changes happen for you i.e. you receive an inheritance, when there are marriages or divorces within your family or beneficiaries, if you have grandchildren.
A Will only speaks from the date of death. We can also advise on Living Wills/Advance Directives. These documents can be important in giving direction to medical practitioners as to what treatments you would or would not wish to have in a life threatening situation if you are unable to participate in such discussions.
If you have any questions or would like to make an appointment to discuss your Will, then please contact Michael Parr, Sarah Baker-Brown or Jo Andrews in our Private Client Team.
If you have any questions then please contact Michael Parr, Sarah Baker-Brown or jo andrews.
Mackarness and Lunt provide bespoke legal advice to give you peace of mind. We have provided a wide range of legal services to individuals and businesses in Petersfield and further afield for over 100 years. During this time we have maintained our reputation as an approachable law firm with a solid base in the community. We continue to enhance our client experience as our absolute priority.