We can tailor your Will, which we will draft for you, so you get to leave exactly what you want to who you want. If you want to ensure that your assets are left to the person or people of your choosing after you die, it is imperative that you make a Will. When someone loses a loved one, life is easier for that person left behind left behind when you leave instructions about funeral, what you want to happen to your house for example, or what specific legacies you want to leave to family charities after you are gone. You express your wishes in a Will of what you want to happen when you die. It is a legally binding document. It will also undoubtably restrict costs if a Will is in place when you die. If there is no Will, it can add stress to an already difficult situation when someone is grieving. If you do not leave a Will, application has to be made to the Sheriff Court for the appointment of an Executor and this leads to delay and expenses. At Robertson Wyse Solicitors, we can draft and submit these application for you.
What is the reality of not having a Will?
· Your family will be a delayed in settling your estate
· Your family will be uncertain as to whether they benefit, and some of them may not if you have not left instructions to include certain member in benefiting from your estate
· Your family will have to go to Court to have an Executor appointed this can cause upset when you have passed to decide who will undertake this role
· Your estate will not usually be divided as you had hoped it would but will be in accordance to the arbitrary rules of the Succession (Scotland) Act, or if you are domiciled in England, the equivalent legislation
· There will be a cost attached to dealing with your estate for legal fees and Court fees, often running to several hundred pounds
· Partners and Spouses may not inherit what you intended to be theirs as there was no provisions made for when you pass this is usually an issue in relation to heritable property
When should you make a Will or review your Will?
· When you undertake your first or a new job and when particularly there are pension arrangements
· When you marry or have a long term partner you need to make provisions for
· When you separate or divorce your spouse
· When you buy your home or any other property
· When you have children
· If you inherit money from another estate
· When you retire and there is a change in your circumstances
· As you get older you do not need to update your Will annually although you should review is often to make sure your wishes are still being met
What can you use your Will for?
· To leave your estate exactly where you want it to go, this may be subject to Legal Rights
· You can appoint suitable Executor or Executors you choose to have the duty to deal with your estate
· You can make provisions for any of your estate that you wish to go to go young children; this will allow you to protect their interest until and age you believe they will benefit the most from or 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 on your estate
· Knowing 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, a lot of people are unaware of legal Rights and their implications*
Legal Rights
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.