Will Drafting
People have all sorts of reasons for making Wills: to save Inheritance Tax, to appoint a guardian for a young child, to sort out funeral arrangements or to set out their intentions if they think family members may not agree.
- Whether you have a complex estate well over the Inheritance Tax threshold (currently £325,000) or whether you simply want to make sure certain belongings go to certain people, we can make a Will to suit you.
- A Will is declaration made in written form as to the intention of how a person wishes to distribute their property and assets. Most people agree that they need one but not everyone knows why they should make one without delay.
- Many assume, quite wrongly, that all their property will automatically pass to their spouse.
- If you don't make a Will then on your death you will have died intestate. This can be as painful as it sounds for your loved ones who may suffer financial hardship and distress at a time when they least need it, whilst your affairs are sorted out.
- If you do make a Will then the legal process in dealing with you affairs will be easier, and much less painful at a time when your loved ones will need all the help that they can get.
- If you don't make a Will then you will have no control over who will inherit what you own. On an intestacy who inherits what depends on which of your relatives is alive at your death and how large your estate is. Spouses may not receive everything and charities, friends and unmarried partners will definitely receive nothing.
- If you do make a Will then you can name the beneficiaries (including charities and friends if you so whish) and you will know with certainty who will inherit from your efforts.
- If you don't make a Will and you are a parent of young children then you will have no control over who looks after them should anything happen to you. In such circumstances, the courts will appoint someone on your behalf - someone that you may not have chosen.
- If you do make a Will then you can appoint guardians of your choice who will look after your children until they reach the age of eighteen.
- If you don't make a Will then your estate may have to pay a charge of inheritance tax.
- If you do make a Will you can distribute your assets in such a way that any Inheritance Tax charge is minimised or even removed altogether.
- If you don't make a Will then your family may have to employ professionals to sort out the mess that you leave behind. Their charges could mean that they become significant beneficiaries of your estate.
- If you do make a Will you family will have clear directions on how to deal with your affairs and may not need to employ (and pay) professionals.
Northern Wills
5 Waverley Avenue
Monkseaton
Whitley Bay
North Tyneside
NE25 8AU