Wills & Probate
Two thirds of the population die without having made a will. The preparation of a will is necessary to ensure that your individual wishes concerning who is to inherit your estate are carried out effectively and by people (your executors) of your choosing. It cannot be assumed that assets will pass automatically to your loved ones upon your death.
Should you not leave a will then the intestacy rules will apply and these set out in a very rigid form who can administer your estate, who is entitled to inherit and in what proportions. These rules may not reflect your wishes and their implementation may be surprising and cause upset and family distress.
No matter the size of your wealth, a will is an important legal document and can cover all aspects of your estate administration including the appointment of executors, the appointment of testamentary guardians for minor children, proper provision for pets and the division of your assets either directly to family or others or through the mechanism of a trust.
At Burley Geach we know the importance of reviewing wills regularly to see if changes in circumstances require them to be revised. Such changes might involve the arrival of children or grandchildren, a change in financial circumstances or a divorce.
It must not be forgotten that marriage automatically revokes any existing will unless it has been made in contemplation of that marriage and this is clearly recorded.
The administration of an estate may require the obtaining of a grant of probate however whether this is necessary depends upon the type and the value of the assets. We can fully advise as to whether formal probate is required and guide your executors through what can be an unfamiliar process at a time that might be very distressing.
Our experienced team comprises members of the Society of Trust and Estate Practitioners (STEP) and Solicitors for the Elderly. Please contact your local office to speak to one of our experts for more information.