Will forms are available for those wishing to make an individual Will, or Wills as a couple.
What happens if you don't have a Will?
- There will be a delay in settling your estate
- Your family will be uncertain as to whether they benefit, and some of them may not
- The family will have to go to Court to have an Executor appointed
- Your estate will usually not go exactly where you want but according to the arbitrary rules of the Succession (Scotland) Act, or if you are domiciled in England, the equivalent legislation
- There is usually additional expense for legal fees and Court fees, often running to several hundred pounds
When should you make/review a Will?
- Your first or new job/new pension arrangements
- When you marry/have a long term partner/separate/divorce
- When you buy your first home
- When you have children
- If you inherit some money
- When you retire
- As you get older
- When you say, "I've been meaning to do one for ages."
What can you do in a Will?
- Leave your estate exactly where you want it to go, including charities, subject to Legal Rights*
- Appoint suitable Executors who will have the duty to deal with your estate
- Provide for part of your estate going to young children. They will otherwise inherit at the age of 16, which may be too young in many cases
- Plan to mitigate the effect of Inheritance Tax
- Know that your affairs are in order, which makes you feel better
- Take account of certain legal rules which give some members of your family special rights
We at Blackadders think it is important that everyone has a Will. Why not speak to us about it, and we will put you in touch with one of our specialists. The cost is probably less than you think. The cost of not having a Will may be more than you imagine!
Scots Law makes certain provisions for a spouse, or civil partner, and children to make claims for Legal Rights. These are rights that exist even where there is a Will. Legal Rights are claimed from relatively few estates, but they can cause difficulties. When we advise you on your Will, we can identify exactly what claims might be made, and how they are best dealt with.