Everyone should have a will so that they can appoint executors.
They’re the people who they would like to deal with their estate – their property, money and possessions – and distribute it in accordance with their wishes.
If you don’t have a will, your estate can go to intestacy.
That means it goes to people based on family connections. The intestacy rules don’t take into account the closeness of your relationships, so your estate could go to people you wouldn’t have chosen.
Administering an estate based on intestacy rules can also incur additional costs which can run into thousands of pounds as family trees need to be drawn up and beneficiaries need to be traced.
The application process to obtain a Grant of Probate – the legal document allowing the executors to deal with someone’s estate once they pass – is a lot more straightforward if you’ve got a will.
But not making a will happens surprisingly often. People think they’ll make one when they’re older, but unforeseen things happen.
As well as dying unexpectedly, people can lose mental capacity. Once that’s happened, you can’t make a will.
At Bendles, we futureproof wills. If something was to happen to your beneficiaries, you can say where you would like your estate to go after that.
We do advise that you review your will every five years, but you shouldn’t need to update it unless your circumstances or wishes change.
We often see the results of someone having prepared a will themselves.
These DIY wills may have been witnessed incorrectly. Or a lot of people don’t say what they’d like to happen to their residuary estate – whatever is left after all specified gifts have been handed out and debts, funeral expenses, and taxes have been paid.
People often allocate set amounts but overlook what happens to what’s left.
You should ensure a will is drawn up through a regulated firm. We’re regulated by the Solicitors Regulation Authority, providing reassurance your will is properly prepared.
If there’s not a valid will in place and people haven’t made provision for those who they would like to benefit, it can lead to some very difficult situations.
Especially as intestacy rules don’t recognise cohabiting relationships in the same way they recognise marriage.
In all sorts of ways, having a Will makes life easier for everyone else after you’ve gone.
For more information, contact Megan Graham at Bendles Solicitors on 016973 42121, email [email protected] or fill out the form below:
About Bendles Solicitors
Bendles Solicitors has one of the largest and most experienced law teams in Cumbria.
Established as a family firm more than 200 years ago, it has offices in Carlisle, Wigton and Whitehaven.
The firm also has bases in Penrith, Appleby and Kirkby Stephen following its recent merger with GK&M Solicitors.
