Wills
The benefits of having drawn up a Will are widely recognised. A Will makes provision for the winding up of your affairs after death.
When someone dies intestate (without making a Will) the law takes over and your wealth could end up in undesired hands, i.e. those of estranged relatives rather than the people closest to you. Furthermore, with some simple Inheritance Tax planning in making your Will tax-efficient, very large sums of money can be saved which would otherwise fall prey to a tax bill.
The majority of people have not made a Will yet the vast majority of those recognise the importance of such but have not found the time to do so or think it may be a complex matter. Most Wills are simple documents but Abensons Solicitors offers a bespoke service which takes into account all of your individual needs, including but not limited to:
- your current assets
- foreign assets
- unmarried partners
- civil partners
- effects of marriage and divorce
- domicile & residence (for tax purposes)
- inheritance tax
- mental capacity
- disabled, vulnerable and child beneficiaries
- knowledge and approval
- claims against your estate
- executors and their powers
- guardians and their powers
- trusts
- specific gifts
For those who have made a Will, there are a number of situations which will affect it. Below are some of the most common where it would be wise to contact us for advice:
- Marriage
- Divorce
- If anyone named in the Will changes their name
- On the death of an executor or if an executor becomes unable to act due to age or ill-health
- When a beneficiary dies
- If you have made a specific bequest of any property, but have disposed of it or its nature has been changed.
- If the value of your assets increases significantly
- If the value of your assets diminishes significantly
