What is a Will and why make one?
A Will is a legal document which allows you decide what happens to your belongings after you die and who inherits them. It is very important to make a Will during your lifetime and while you still have the mental capacity to do so, in order to ensure that your loved ones are provided for. If you do not make a valid Will your spouse or civil partner may not necessarily inherit everything, unmarried couples may not inherit from each other and friends and charities close to your heart will not benefit. A Will also allows you to:
· choose who you would like to have deal with your Estate after your death;
· specify who you would like to be the guardians of your children should you die before they reach 18;
· direct whether you would like to be cremated or buried and list any other specific funeral wishes;
· leave particular sums of money or possessions such as jewellry or paintings to particular people;
· make provisions for what will happen to any businesses you own.
It is always advisable to make a Will if you have married, divorced or separated from your spouse, if your Estate increases significantly (such as after purchasing a property) or where others are financially dependent on you, such as if you become a parent. We are able to prepare Mirror Wills for couples who would like to have virtually identical Wills.
A Will is also an effective way of tax-planning to ensure that you pay the least amount of Inheritance Tax possible. Stephen West, our Wills & Probate solicitor, is able to give specialist advice on tax-planning and the drafting of your Will.
What is a Codicil?
A Codicil is a legal document which can be used where minor parts of a Will need to be changed, such as a change of Executor or to remove a gift to a particular person. A Codicil exists alongside your Will and does not affect its validity.
Oliver Fisher Solicitors can prepare your Will or Codicil to ensure that your interests are protected and to give you peace of mind knowing your Estate will be taken care of when you die.
Our charges for drafting Wills or Codicils vary depending on their complexity – please contact our Wills & Probate Solicitor Stephen West or his assistant Lisa Bilham on 0203 219 0145 or email him them at email@example.com or firstname.lastname@example.org to discuss the preparation of a Will