What happens if I die without a Will?
In this article, we will answer some of the most common questions about the complexities of dying without a Will.
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Wills & LPAs
Wills
What is a Will?
A Will is one of the most important documents you can have as it makes sure your assets pass to the person, or persons, you want them to. Nobody likes to think about it too much, but inevitably one day you will have to leave your possessions and property to someone.
Wills
A Will deals with what will happen to your assets when you die.
The key reasons to have a Will can be summarised as follows:
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Provide an inventory of assets, especially in cross border Estates.
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Clearly set out the deceased’s final wishes for the ownership of assets to minimise the chances of conflict. A Will, or side letter, might even set out reasons for such decisions.
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Avoid uncertainty or unintended consequences (such as the intestacy rules).
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Tax optimisation: Arranging for assets to be transferred to the Beneficiaries in the most Tax efficient manner
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If you have no plan in place for your minor children and they are left parentless, a Judge gets to decide who will be their Guardian.
Put simply, dying without a Will in place can cause issues for those left behind.
A Will is one of the most important documents you can have as it makes sure your assets pass to the person, or persons, you want them to.
that passes to loved ones.
What work we will undertake for you?
Unless otherwise instructed, we will undertake the following work for you
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Take instructions in relation to the content of your Will and provide you with advice as to the content and effect of it.
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Draft your Will in preparation for signature
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Go through the Will with you and explain the content and operational effect of each clause.
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If you are happy with the content, we will complete and witness the signing of the Will, to ensure that it is executed in the correct manner
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Create a file note to detail that the Will was signed in the correct manner and to provide evidence that you had capacity to make the Will, that you made the Will free of Undue Influence and that it was executed in the correct manner. This evidence can then be presented if anyone was to challenge your Will at a later date.
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Provide you with a copy of your Will for your records. Unless otherwise instructed, we will retain the original and place it in our strong room. This service is free of charge and mean that if the copy of the Will is misplaced, we can provide you a further copy, again free of charge.
Time frame
We will strive to see you within one week of initial instructions to go through the initial draft of your Will.
Fees and Disbursements
Fee earners specialising in this field. Please click on their name to see relevant experience.
LPA
LPAs
What are Lasting Powers of Attorneys?
What work we will undertake for you?
Unless otherwise instructed, we will undertake the following work for you
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Take instructions in relation to the content of your Lasting Power/s of Attorney and provide you with advice as to the content and effect of it/them.
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Draft your Lasting Power/s of Attorney in preparation for signature
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Go through the Lasting Power/s of Attorney with you and explain the content and operational effect of it/them.
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If you are happy with the content, we will complete and witness the signing of your Lasting Power/s of Attorney, to ensure that they are executed in the correct manner.
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Create a file note to detail your wishes in relation to your Lasting Power/s of Attorney, along with a detailed note confirming that you had capacity to complete the document/s and that you did so of your own free will.
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Arrange for any and all attorneys to sign the documentation
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Register the documentation with the Office of the Public Guardia
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Provide you with a copy of your Lasting Power/s of Attorney for your records. Unless otherwise instructed, we will retain the originals and place them in our strong room. This service is free of charge and mean that if the copy of the Lasting Power/s of Attorney are misplaced, we can provide you a further certified copy, again, free of charge.
Benefits of making an LPA
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It can be reassuring to know that, if you are unable to make a decision for yourself in the future, the person you choose will make these decisions for you.
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Making an LPA ensures that the person you want to make decisions for you will be able to do so. This prevents a stranger, or someone you may not trust, from having this power.
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Making an LPA now will make things easier for your family and friends in future. It will be more expensive, difficult and time-consuming for them to get the authority to act on your behalf when you are not able to give it.
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Making an LPA can start discussions with your family or others about what you want to happen in future.
Time Frame
We will strive to see you within one week of initial instructions to go through the initial draft of your LPA or LPA’s.
Fees
Fee earners specialising in this field. Please click on their name to see relevant experience.
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