According to recent research* 90 per cent of the UK’s adult population have not made a will, which is a scary thought when you consider the likely implications of not having this important document in place.
A will is a statement of wishes after your death which determines how your estate will be divided. By making a will you can choose which of your relatives, friends or charities should benefit from your estate when you die.
If you don’t make a will then the Intestacy Rules will direct how your estate should be divided and this might not be what you would have wanted. For example, the Intestacy Rules do not recognise a co-habitee as a person entitled to your estate, therefore, to ensure that they benefit on your death, it is advisable to have a will in place.
If you have young children it is also important to make a will so that you can appoint guardians to look after them after your death.
When you make a will it is important to seek legal advice to ensure that it is correctly prepared and executed meeting the statutory requirements. At Fraser Brown we can guide you through the process of making a will. We can also give advice with regards to tax planning during your lifetime and on death.
For further information on wills, probate, trusts, estate planning, inheritance tax, lasting powers of attorney and other legal services simply contact us at our Bingham Office on 01949 838439.
*UK Accounting Firm – Armstrong Watson Sept 2007
Fraser Brown is a dynamic law practice working at premises in Nottinghamshire through its branches in Nottingham, Radcliffe on Trent and Bingham.
Its philosophy is to deliver superior legal advice through a personal and highly professional service for both commercial and private clients. Since 1990, Fraser Brown has acquired eight established and respected local firms as part of its major growth strategy for doing business in the 21st Century.
Fraser Brown is one of the region's longest established firms of solicitors. Over the last 12 months, it has experienced significant growth in areas such as property, contract work, construction and general litigation.