A properly drawn up, legally binding Will ensures your assets are dealt with after your death in the way that you would choose and minimises anxiety and expense for your loved ones.
It also reduces the likelihood of family disputes. Most people know the benefits of having a properly drafted Will in place, however, many of us do not get round to doing it or forget to keep it up to date as our circumstances change.
If you do not have a valid Will, you are not in control of who inherits your hard earned assets. You cannot assume that any spouse, life partner or children will inherit everything.
If you die without a Will then the law will determine who will inherit from you and this may not be what you want to happen. In addition, there are also costly and time-consuming extra formalities required in administering your estate after you die if you do not have a valid Will.
For a Will to be legally valid, certain formalities have to be observed. Some of the important points on which we can advise you are:
- The appointment of trusted people (known as 'executors') to administer your estate in accordance with your wishes in your Will
- The beneficiaries of your estate
- Appointment of legal guardians for any children under 16
- Provision of any pets
- Specific legacies - you may wish to give certain articles and/or cash legacies to specific persons or charities
- Funeral requests - this can ease the burden on your loved ones if they know what you wish to happen
Your situation may require more expert advice and we offer an Enhanced Will and Estate Planning Service to advise you on:
- Any concerns regarding the beneficiaries of your estate
- Consideration of future care home costs
- Trust provision for young children
- Trust provision for a disabled person or an older family member who is unable to deal with their own affairs
- Trust provision for the protection of assets - for example, in second marriages when you may wish your own assets to pass ultimately to your children, or for business assets where there may be succession issues in the next generation
We can help you create the Will that best suits your needs and circumstances, or we can review your existing Will to see that it still reflects your wishes.
Our experienced Wills team can help. No matter how complex your requirements, we will help you write your Will in an efficient and legally binding manner as well as advising on related matters such as Inheritance Tax Planning and Trusts.
Contact our Wills Solicitors, Perthshire, Tayside & Stirlingshire
What matters to you, matters to us. At Macnabs, our solicitors offer practical solutions to your legal problems. Drawing on many years’ experience and in-depth professional expertise, but with a practical, down to earth approach, and straight-forward and friendly advice that keeps our clients coming back again and again. We will guide you smoothly through entire the legal process.
If you are looking for expert legal advice, get in touch to find out how we can help. We have offices in Perth, Blairgowrie, Pitlochry and Bridge of Allan and serve clients in Perthshire, Tayside & Stirlingshire and across Scotland. Pop into one of our offices to make an appointment to speak to one of our team, or give us a call on 01738 623432. Alternatively, complete our online enquiry form and someone will be in touch shortly.