Last Will And Testament For UK Nationals Living at Home or Abroad

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Last Will and Testament Just £39.99 or £69.99 for two Legal professionally written Wills.
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                    Why Should You Make A Last Will?
To ensure that your belongings (estate) pass to the people you choose without delay or argument. 
Making a Last Will is as much about your wishes as your wealth. It means that you take the decisions about which of your possessions goes to whom, whether they are financial or simply sentimentally valued possessions
Making a Last Will, It’s also about your beneficiary’s health as much as wealth. Dealing with death is very hard; if you add uncertainty and ambiguity at the same time then health problems undoubtedly arise.

Where the deceased has not left a Will your family would have to choose a representative for you to approach probate, to obtain, a grant of letters of administration, ensuring someone is appointment as the administrator for your estate. Your estate is then distributed under the rigid rules governing the Law Of Intestacy. This law, laid down in the Administration of Estates Act, applies irrespective of the amount of wealth a person owns at death.

Where the deceased has not left a Will the law does not allow any opportunity to consider any wishes the deceased may have had, even if those wishes appeared obvious and written down other than by a properly executed Will. In fact a Will written, but not executed correctly, could very well constitute that the deceased had changed his mind as to whom his beneficiaries should be.

I don’t need a Will I have very little to leave!

A man died who, after deducting all his debts and liabilities, had only a few thousand pounds and no living relatives. His best friend knew that the man was an ardent supporter of childrens charities and had been told by his friend many times that “when he died he wanted all his cash to be given to that particular childrens charity”. The man duly passed this information on to probate, who had no option under the law, but to give the mans few thousand pounds directly to the Crown.

Where the deceased has left a Will your chosen executor is appointed and applies for a grant of probate this frees your estate for distribution to your family in the exact way that you have decided in your Will.

Which do you think would be the simplest and quickest? Hmm, should I leave a Will or rely on intestacy?

Without a Last Will spouses may not automatically inherit all of your estate. It is important to be aware that the spouse of a deceased person who died intestate, DOES NOT automatically inherit the whole of the spouse estate if the total value of the free estate passing on the death is of substantial value. The Law prescribes what a surviving spouse can automatically receive, this is known as the statutory legacy, and the amount is dependent on whether or not the deceased was also survived by issue (children) and certain other relatives, again in order of strict priority.

Did you know that if you own your house jointly with your spouse or partner you couldn’t leave your share to your children unless you take other steps and make specific arrangements in your Last Will?

                                                               Unmarried Partners
Without a Last Will unmarried partners would not inherit your estate. So even after many years living together partners may get nothing if no Will is made and properly executed. 

If you do not own your home jointly you could find yourselves having serious problems even staying in the property. The fact that a couple have been living together for many years gives no automatic entitlement to the estate of the first to die. Even if, through the courts, you eventually get the estate you may have had to wait many years and paid many unnecessary fees while sorting it out.

Making a Last Will and naming your beneficiary and executor would solve a potential disaster from happening. By making a Last Will and Testament any doubt as to the ultimate destination of a testator's estate is removed and the true wishes of the testator are made known to those left behind.
        Guardianship Of Children maybe the most important reason to make your Last Will
For most married couples or cohabiters the overriding requirement is to make provision for the survivor and any children they may have. They are also concerned about the possibility of their both being killed in a common disaster leaving minor children surviving them.

Testators with minor children should consider who would have the care of any minor children who survive them.

The guardianship of minors act 1971 has been repealed in its entirety by the Childrens Act 1989, Schedule 15.

A parent with parental responsibility may appoint a guardian. Broadly speaking, a mother has parental responsibility irrespective of her marital status. A father has automatic parental responsibility if he has been married to the mother at any time later than the date of conception. An unmarried father may aquire parental responsibility by court order or agreement with the Childs mother. An appointment may be made by Last Will or in writing (section 5 (5)).

 An appointment by one spouse where the other spouse survives will now not normally take effect until after the death of the surviving spouse. If the surviving spouse also appoints a guardian, the two guardians will act together after the death of the surviving spouse.

Testators with minor children should consider who would have the care (guardianship) of any minor children who survive them by making sure that a guardian is named in your will. Thus giving someone of your choice your legal consent through your Will, therefore, preventing the state and social services stepping in and having to choose a guardian for your child in your absence.

The state will undoubtedly do its best for the child but why risk the unnecessary trauma this can cause. Make a Last Will and make YOUR wishes known.  It can take The Social Services years to make this decision for you.

AFTER they make this decision, COSTS could be incurred for doing it, payable from your estate, from your childrens inheritance.

Needless to say, great consideration must be given to appoint someone appropriate and responsible who can love and care for the infant as you would have done yourself. You may wish to consider a close relative or Godparent to fill this parental role. A suitable executor can also act as guardian and vice versa.

Inheritance Tax may be payable on your estate when you die.

If in any doubt you should seek professional advice.  Please advise us if this is the case when you submit instructions for a Will.

No Inheritance Tax is paid on any assets passing between husband and wife.

                 How much and when is IHT payable?

This depends on each individual's estate and how it was made up at the date of death. Each individual has a Nil Rate Band threshold. Inheritance tax thresholds and rates. If you are single and die during the tax year 2016-2017 with an estate worth more than £325,000 (including money, property and investments, but after deducting debts and expenses such as funeral costs), 40% tax will become due on anything above £325,000.

You have six months from the end of the month in which death occurred to pay the tax. Payments made can be from any savings or investments that may be available within the estate. If the main assets are (as is typical) made up from property and savings or investments and are not available then you may be able to pay the tax owed in instalments, interest may be charged on payment in instalments.

No Inheritance Tax is payable provided that the total value of your estate is less than the inheritance tax threshold.

Inheritance Tax is paid at 40% on any part of your estate above the inheritance tax threshold.

  When valuing your estate you should take into account the value of all of your assets, including your property, savings, stocks, shares, premium bonds, Building Society accounts, Bank accounts, antiques, in fact everything that you personally own.

If you are in doubt as to your financial position, whether Inheritance Tax would be due and it's effect on your estate, you should seek professional advice.  Please advise us if this is the case when you submit instructions for a Will.

                                           Quote from the founder of WiseWills.

"Unfortunately experience has shown me that people often plan to make a Last Will and Testament but for whatever reason they seldom get around to doing anything about it. Often leaving their most loved one’s in a needless panic at a time when they most need reassurance".

The facts are, according to the Probate Office, about 70% of the adult population of the UK have not made a Last Will.
By making (or executing as it is also known) a Last Will, the testator (the person making the Will) is making sure that when he or she dies the personal and real estate assets that they leave behind passes to the person or persons who the testator has nominated, and that the wishes for such disposals are clearly expressed.
However, if a person fails to make a Last Will, any personal and real estate left behind are distributed according to the Law on Intestacy. In such an event the distribution may not be exactly what the deceased person would have wished to happen. Many people assume that when they die all their estate passes to their spouse/partner and/or children but this is not necessarily true in all cases and is dependent on other factors and personal wealth.
By making a Last Will and Testament any doubt as to the ultimate destination of a testator's estate is removed and the true wishes of the testator are made known to those left behind.
                          Don't Delay in making that Last Will. The Consequences?
Without a valid Last Will and Testament your beneficiaries are left with the problem of obtaining a Grant of  Letters of Administration and appointing an administrator in your absence to deal with disposing of your estate under the rules of intestacy. This can take months, sometimes many months. In the meantime your surviving spouse or partner has all the usual, household, weekly, monthly, and daily expenses to find. All this and they will undoubtedly be on a reduced income.
Your surviving spouse or partner may not have access to money they would normally have a right to because it could be frozen until all the formalities have been sorted out. In the above situation it could take many months.
If you have named an executor in your will they need only apply for a Grant Of Probate and this usually takes a couple of weeks at the most.
                                 Quote from a Badly Prepared D-I-Y Last Will!
"I leave everything to my wife and on her death it is to be shared between my children"
An absolute disaster! The husband wanted to leave everything to his wife, who would then on her death leave it to their children. This statement means that his estate by-passed his wife in favour of his children. His wife is left merely holding his estate in trust for the children. 
This is one of the reasons why lawyers spend more time, and make more money, sorting out disputes in badly drafted do-it-yourself last will than they do from actually drawing them up.
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