A Will is one of the most important documents you will ever have to sign. It enables you to state your final instructions about what will happen to your estate and belongings when you have gone.
It also tells people about who you were and what factors you considered important such as family members, close friends and charitable causes. A Will enables you to leave that special person or valuable cause, a nice token to remember you by. Here at Pearl & Co Solicitors London, we can help you to prepare, write and sign your Will. We will help by explaining every process in detail and enable you to achieve your final wishes; ensuring those important to you, receive something to remember you by.
One of the main reasons people make a Will is so that they can divide property and assets amongst family members. This enables a family to be clear on what you have left for them without the lengthy hassles of negotiating between themselves; especially at a time which will already be stressful and upsetting. If you die without any Will or Probate in place, you are declared ‘Intestate’ and your whole estate will be to be dealt with through the court system under Intestate laws. This can be a long, stressful and expensive process with no access to funds, property, child guardianship and belongings until after it has been settled by the courts. This will incur various fees including court fees which can significantly lower the total value of your estate; leaving less money for your family.
A Will is a protective barrier for your family and loved ones. It ensures that they don’t have to go through long legal battles with added stress and confusion. It also helps them smoothly arrange your funeral so they have time to grieve properly.
The Risks of A Homemade Will
Complying a homemade Will can carry significant risks all around. Even the smallest of errors can cause big confusion or make it invalid. There have been many instances where errors have been made on a homemade Will and those who signed it, had not noticed the errors or had it checked. This made their Will invaded and Intestacy arose, causing their property and estate to be distributed in accordance with rules set by the law. In some circumstances, this can cause your estate to pass on to people you didn’t like or want to inherit the money; sometimes it can even go to estranged family members you didn’t even know.
As careful and detailed as you may be, many people don’t realise that even the smallest of details can make a Will invalid. One of the most common mistakes is the actual signing of the document as there are specific rules about how it should be signed. For example, calling upon a close family member to witness the signing of your Will, could be a big mistake and you could unintentionally cause them to be disinherited from your estate.
Preparation of your Will should always be done with a solicitor present. This ensures you know all the ins and outs and everything is fully explained to you; so there is no room for hidden surprises or errors. A solicitor will determine who the Executor will be, how you will divide your property and assets and who it will go to. You can also state specific terms that need to be met or include instructions for the guardianship of children and pets.
Almost everyone has had some form of legal advice during their lifetime, writing your Will should be no different. It is the most important document you sign that cannot be changed once you have gone.
If you would like to discuss making a Will or advice on how we can help to manage your family affairs, then please do not hesitate to contact Pearl & Co Solicitors London for any information or advice.