- To avoid any family arguments over who inherits what from your estate.
- To appoint a guardian of your choice should you die before your children reach the age of 18 and provide financial support for that guardian.
- To chose who gets what and make specific gifts for example to charities and the people you most love to show how much you cared for them.
- To lessen the risks of Inheritance Tax on your estate:
On death all the assets a person owns are added together to
give a total value.
This total represents the worth of the person's entire estate
and becomes subject to Inheritance tax.
The first £255,000 of the estate's value is exempt from
Inheritance tax however any amount above this
limit is then taxed at a rate of 40 per cent. It's worth
getting advice on exactly how to distribute
WHAT HAPPENS IF YOU DON'T MAKE A WILL?
When a person dies without making a Will they die 'intestate'. May people assume that if they die without making a Will, all their assets will go automatically to their wife/children. This is not always the case and you should note the following.
If you're married your wife may not inherit all of your estate. Some of your estate may go to your children (if any) or other family members.
If you unmarried your partner may not get anything, everything will go to your children or other family.
If you're separated-your ex spouse may be entitled to claim part/all your estate.
If you haven't appointed guardians for your children upon death, it will be up to the court to decide and their choice may be very different from what you had in mind.
WHY INSTRUCT US?
We are experienced in dealing with Wills for all types of clients and all sizes of estates. We will ensure that your Will is exactly as you want it.
OUR COSTS
We charge £125 PLUS VAT for single Wills.
We charge £150 PLUS VAT for husband and wife joint Wills (Known also as mirror Wills which basically means two virtually identical Wills except one is for the husband and the other is for the wife)
HOW TO INSTRUCT US
You can CALL us on 020 8567 2916 and book an appointment to see a Solicitor who will then take your instructions and give you any advice you seek about distributing your assets. This may be more appropriate where you are unsure of how to distribute assets or wish to get advice on avoidance of inheritance tax.
You can fill in our WILL QUESTIONNAIRE on line and submit it to us. We will then write to you/ email you to confirm you instructions. This may be more appropriate if you are sure of exactly how your estate is to be divided or your instructions are quite simple.
WHAT ABOUT PROBATE?
Probate is the administration of a person's estate upon death. This can be very complicated and time consuming task.
We deal with the following matters:
- Collecting information on all of the deceased assets and debts
- Applying for probate
- Filing in the Inheritance Tax forms
- Preparing the final accounts for the estate
- Advising on the distribution of assets according to the Will
If the gross value of the estate is ABOVE £255,000 we charge A FEE OF 1.5 % OF THE GROSS VALUE PLUS VAT.
Please contact us on 0208 206 3530 or email us and arrange a meeting to see the solicitor.
If you have any questions or other queries please email us.
