Wills

If you are thinking about whether to make a Will or not, you may be asking yourself questions such as whether you even really need to make one, how you go about it and what sort of things need to be included along with whether it is expensive to put a Will in place.

Here at Bowcock & Pursaill we understand that it can be upsetting to think about making arrangements for when you are no longer around and especially when it comes to putting provisions in place to make sure your children or close family are looked after when you’re gone.

However, by putting a Will in place, you are doing just that – ensuring that, in what is sure to be a difficult time for your loved ones following your death, your estate can be dealt with and distributed in accordance with your wishes, making things that bit easier for those loved ones left behind.

If you were to pass away without a Will in place, your estate would be distributed in accordance with the Intestacy Rules set out in law, which may mean your assets do not end up going to who you would wish, with very little that can be done about it. This is even more problematic for unmarried couples or those with step children as these loved ones are not provided for under the Intestacy Rules meaning they are not entitled to receive any of your estate. This can then leave your assets passing to distant relatives with whom you had little contact with during your lifetime.

Our specialist team of Wills & Probate lawyers have extensive knowledge and experience in this are and can offer advice tailored to each individual client based on their specific needs. We can also be appointed as Executors of an estate should you so wish, to ensure that the administration is carried out by a third party, thus making sure that decisions are made in an impartial manner and in accordance with your wishes.

Our dedicated team are also able to advise clients on the best way to protect themselves and their assets from things such as Inheritance Tax and extensive care fees. This can be particularly important for those clients who may own businesses or multiple properties who wish to protect them for the next generation. Find out more about inheritance tax here.

For those clients who already have a Will in place but are wondering whether it is still appropriate for them, we recommend reviewing your Wills no more than every five years due to changes in circumstances or tax legislation. It is also important to review your existing Wills at the same time as big life events such as the purchase of new property, birth of a child or grandchild and upon marriage, entering a civil partnership or separation and/or divorce.

Many people do not realise that by getting married or entering into a civil partnership, any Will made before will become null and void unless specifically stated otherwise. Similarly, if a relationship breaks down, it is important to update any Will you currently have in place or to put your first one in place to ensure that your assets do not end up with passing automatically to your now estranged partner.

Our friendly team operate throughout Stoke-on-Trent and Staffordshire and work closely with clients to ensure the best possible preparations are put in place. The team will offer personalised support on what can be a sensitive subject, so do not hesitate to contact a member of the team today to start your estate planning journey.