Your will is a legal document in which you decide who inherits your money, property, and other possessions after your death. The process of making a will is not very time consuming or expensive, but it is a good idea to get legal advice, especially if your estate is not straightforward. SCL Wills and Probate offers will writing services in Potters Bar.
Your will should provide some basic information to provide direction to your loved ones. The will should state who will benefit from your will, including the people you want to inherit your money, property, and other possessions. If you have minor children, your will should appoint a guardian to look after them. The document should also name an executor who will sort out your estate and make sure your wishes are followed.
The process of making a will is not very time consuming, but there are situations that may require specific legal advice. For example, if you share property with a person who is not your spouse or civil partner, own property overseas, or want to leave money to a dependant who is not able to care for themselves. If you believe there are family members who are not provided for in the will, but may make a claim, such as children from another marriage or a second spouse, you should seek the advice of a solicitor.
Careful Estate Planning
There are some requirements for a will to be valid. Our will writing services are designed to make valid wills and our solicitors will make sure that your will meets all legal requirements. The person making the will must be 18 years or older, of sound mind, and make the will voluntarily. The will must be in writing, signed in the presence of two witnesses over the age of 18, and 2 witnesses must sign the will in your presence. The witnesses must not benefit from your will.
When writing your will and making estate planning decisions, there are ways to help minimise the Inheritance Tax that must be paid on your estate. The specific methods for minimising taxes vary, depending on your situation. Our estate planning solicitors in Potters Bar have knowledge of all current laws and estate planning methods to provide you with the best legal advice and guidance.
While your will states what happens when you die, part of estate planning is making plans for problems that may arise prior to your death. You may want to create a power of attorney for health and welfare or property and financial affairs. These documents designate appoints the person who will make decisions for you, should the time come when you are unable to manage your own affairs. At SCL Wills and Probate, we can help with applying for power of attorney in Potters Bar.
Once you have made a will, it is a good idea to review it periodically. Changes to your situation or the size of your estate may require making changes. This can be done by signing a codicil or making a new will. If you make a new will, the old one should be destroyed. Our wills and probate solicitors & lawyers in Potters Bar provide will writing services for codicils and new wills. Please contact our office for an appointment.
