As with all legal documentation, errors can and do occur when preparing a Will, particularly if it there are particular wishes and clauses beyond the standard. This is the principal reason why the services of an expert Will writer should always be sought.
Most often, a Will is proven without incidence. However, occasionally, there may be some dispute over the contents of the document, particularly if family members have not been included, and have not been allowed to see the Will.
Unfortunately, there are occasions when the death of an individual can trigger family hostilities and conflict.
Although the British public spends millions every year on donating money to charity, only a small percentage bequeath any of their Estate to charitable organisations in the event of their death – something which these organisations are quite understandably keen to encourage, given that this source of funding is vital for them to remain in operation.
New facts which have recently come to light regarding the Wills belonging to a number of key people throughout the last 150 years, make for extremely interesting reading.
Peter Sellers passed away just over 30 years ago in July 1980, a famous comedy actor loved by many. Sadly, he fell foul of poor Estate planning, and it has recently come to light that his last wishes were actually not known about at the time of his death and therefore not followed.
As part of the process of preparing your Will, you will of course need to consider your main assets in relation to the issue of Inheritance Tax, and a professional Will writer will advise you on the likely impact this is likely to have, ways of limiting this effect on your Estate, and how you can make proper provision.
Wills should be consistently maintained and altered to reflect the different circumstances which will affect you within your lifetime. Divorce, the birth of a new child or grandchild and the purchase of additional property would all require that a new Will be drafted.
Probate can be a long and lengthy process, depending on the amount of nature of the assets which are to be left to loved ones. However, it can be made considerably easier and faster, with the inclusion of specific detail in the Will.
One of the key things you will need to decide when you make your Will is who to appoint as Executors – the named individuals who will organise your funeral arrangements and administer your Estate after your death.
One thing you need to consider when you are writing your Will is whether you or not you want to set up a Trust Fund, particularly if you have one or more child who is under the age of 18 at that time.
It stands to reason that in most cases, the last thing your loved one wants to do is create a problem for those left behind after they have gone. Despite this, thousands of people continue to ignore the need to prepare a Will which can be followed in the eventuality of their death.
Inheritance Tax, Capital Gains Tax and funeral expenses can, if not provided for correctly, leave...
When writing your Will, one of the questions which arises if you have children under 18 is who...
One of the things often overlooked when going about your daily business, is the importance of...
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