Frequently Asked Questions: Wills
Oftentimes we are bombarded with questions that relates especially to our plans of ensuring a brighter future for our loved ones in the time of our passing. Listed below are the top Frequently Asked Questions about Wills in the UK that can help you.
1. What is a Will?
A Will is a legal document that outlines how you want your assets and property distributed after your death. It is also where you can name guardians for any minor children you may have… Read More
2. What is a living Will?
A living will is completely different to Will. It is a legal document that outlines your wishes for end-of-life medical care. It can specify what medical treatments you do or do not want if you cannot communicate your desires. A living will, as the name suggests, deals with what you want to happen whilst you are alive. Your Will sets out how you want your estate to be handled following your death…Read More
3. Do I need a Will?
Yes, everyone over the age of 18 should have a Will. Without a Will, your assets will be distributed according to prevailing laws, which may not align with your wishes. If you want certain people to inherit your possessions, it is imperative that you write a Will.
- How much does it cost to write a Will?
- Using Legacy Matters is much more cost-effective than using a solicitor. Remember, we are Wills and estate planning specialists. A solicitor deals with many other topics and so will not be as knowledgeable in this area.
We charge just £149 to produce a single Will or £298 for a couple, that is going to give you and your family peace of mind and save time and heartache in the future.
4. What happens if I die without a Will?
In the UK, if someone dies intestate (without a valid Will), their assets and property are distributed according to the rules of intestacy. These rules are as follows:
If the deceased was married or in a civil partnership and had no children, their entire estate goes to their spouse or civil partner.
If the deceased was married or in a civil partnership and had children, their estate is divided as follows: their spouse or civil partner receives the first £270,000 (or the entire estate if it is worth less than this), all personal belongings, and a life interest in half of the remainder. The other half is divided equally between the children.
If the deceased was unmarried and had no children, their estate goes to their closest living relatives, such as parents or siblings.
If the deceased was unmarried and had children, their estate goes to their children.
The estate goes to the Crown (Royal Family) if there are no surviving relatives.
As you can see, there is no room for others, such as siblings, grandchildren or carers, to inherit. Therefore, it is vital that you write a Will if you want specific people to benefit after you have died… Read More
5. Can I write my own Will?
Yes, you can write your own Will, but it is not recommended. DIY Wills often contain mistakes or language that is not legally binding, which can lead to problems down the line. We will ensure your Will is written correctly so you have total confidence and peace of mind. Read More
6. How often should I update my Will?
You should review your Will every few years or after any significant life changes, such as a marriage, divorce, or the birth of a child. It is essential to ensure that your Will accurately reflects your current wishes. Read More
We offer a FREE review of your Will every two or three years. If your Will does not require any changes, there is nothing to pay.
7. How do I choose an executor for my Will?
Your executor should be someone you trust to fulfil your wishes after your death. They should also be organized and capable of handling financial and legal matters. You can name a family member, friend, or solicitor as your executor. Read More
Do you still have some unanswered questions?
Book a free call with one of our experts so we can answer them.
From our Cambridge office, in your own home or online, we’re ready to help you in the way that is best for you.