Making a Will is one of the most important things you will ever do.
Dying without a Will often leads to a lot of confusion, distress and sometimes financial hardship for your family
A Will is a legal document which comes into effect at the time of your death. It includes details of who should look after your estate and carry out your wishes, and who will benefit.
With a Will in place, you can:
- Protect your wealth and investments for future generations
- Choose your executors – the people who look after your estate and carry out your wishes
- Make sure you don’t pay more Inheritance Tax than required whilst protecting your assets
- Appoint guardians for children under 18
- Account for changes in your family such as birth, marriage, divorce, bankruptcy and death
- Help your executors by increasing the powers given to them by law
- Make gifts to young children, disabled children or charities.
What happens without a Will?
- Your estate may not pass to the people you want it to. Specific rules (known as Intestacy rules) will apply and will dictate how your estate is distributed
- If an unmarried partner dies without making a Will, the surviving partner has no right to any inheritance under the existing intestacy rules
- If you have children and have not left a Will, no arrangements will be in place covering who should take over parental responsibilities.
Who can create your Will
Using a solicitor to prepare your Will lets you rest easy in the knowledge that it has been put together to meet your specific requirements and is legally binding.
Common issues with home-made Wills or those prepared by Will writers can include:
- Failure to dispose of all of the estate
- Certain family members and dependants may have the right to claim the estate if reasonable financial provision has not been made for them
- Failure to consider the impact of divorce and/or remarriage
- The Will being signed and witnessed incorrectly
- The Will being witnessed by a beneficiary or their spouse which will make any gift to them legally ineffective
- The Will being wrongly interpreted if drafted incorrectly or ambiguously.
How much does a Will cost?
The costs for creating your Will may vary depending on your specific circumstances. After discussing your situation we will provide a full breakdown of the costs involved.
We’re here to help
A member of our Nottingham-based team will be very happy to discuss your Will over the phone or by video call, providing tailored guidance and advice on the most effective and up to date way to protect your wealth.
What would happen if I didn't make a Will?
Your estate will pass under the rules of intestacy, usually to your closest living relative(s). The only way to avoid this is by making a Will.
What are Executors?
Executors are the people appointed by you in your will to deal with your affairs after you have died.
Can my potential Beneficiaries also be my Executors?
Yes. However, a beneficiary or a spouse of a beneficiary must never be a witness to a will from which they will benefit.
Was always kept informed of all aspects and was able to easily access Bindiya and get an answer to any queries I had - would highly recommend her.William
The Legal 500 2021: Personal Tax, Trusts & ProbateActons undertakes a wide range of matters concerning wills, trusts and estate planning for individuals, farmers and business owners. Its team has notable expertise in contentious work, including contentious probate and Court of Protection applications. The firm has a strong presence in the charities sector and is associated with Age UK Nottingham & Nottinghamshire and Reach Learning Disability...the team is now led by associates Bindiya Patel and Heather Parker; the latter was a key hire from Rotheras.
"Bindiya was very organised and efficient and dealt with matters in a caring and understanding way. Thank you!"Louise St Dennis
"Actons ‘provides excellent comprehensive service with a personal touch’. The ‘very professional and trustworthy’ team advises on the full range of will, trusts and probate work, often collaborating with the firm’s corporate and commercial departments to better service owner-managed and family businesses."The Legal 500 2018 (Personal Tax, Trusts & Probate)
"Actons did a great job with my wife and I wills which were quite complex, (example) "if this happens or that happens" had to be put in a legal way (plus all the charities) alot! Checked and verified. Lauren did a sterling job."Robert Laird