You might have already approached the people you’re going to appoint as
guardians and executors in your will for their permission to do so, but let’s
face it, a lot can change between now and when your will’s going to be needed.
This could include these key people changing their mind, not being around
anymore or not being physically able to carry out their responsibilities.
How you can minimise the risk of this happening
We’d always recommend you appoint substitutes for the key appointments in
A trustee is a person who has legal responsibility for assets on behalf of
somebody else, called the beneficiary.
Trusts have all sorts of uses. They can be complicated they don’t have to be. In
fact even the most simple of wills might require someone to take legal
responsibility for assets on behalf of someone else. A good example of this is
where a will leaves something to a child under 18 In that case a trust is needed
to hold the assets for them until they reach 18 (or older if that’s what
Being an executor is an important and sometimes demanding responsibility, so it
is vital you choose yours with care.
It is often a good idea to talk to anyone you’re thinking of appointing before
you write your will to make sure they have a fair understanding of what will be
expected of them and they are happy to take on this role. If they are not
willing, they will have the right to refuse the responsibility when the time
comes, so it makes sense to get their permission in advance.
Who can be
One of the most important tasks involved in writing your will is to appoint
executors. These are the people who will manage and distribute your estate after
you’ve died, using the instructions you make in your will.What does an executor
do?
Typical responsibilities can include:
* Collecting and listing all of the assets in the estate – bank accounts,
property, possessions etc.
* Valuing the estate.
* Applying for a grant of probate.
* Making sure all debts, bills, taxes (including inheri
When creating a will to document the division of an estate or assets, the
tendency can be to look for a will writing service that is located close by.
Historically the large majority of people have visited their town center or
high street and prepared their will with a local solicitor.
In fact, the term ‘will writing services near me’ scores very high for the
number of searches in Google’s engine.
This demonstrates that for those looking to write their will there is a common
thread of seekin Read More »
You have until June 4th to write your Will
[https://www.affio.co.uk/why-should-i-use-an-online-will-writing-service] and
register it for free with The National Will Register
[https://www.nationalwillregister.co.uk/aboutwillregistration.aspx] using code
FreeWillReg2021.
The National Will Register is a trusted partner of the Law Society of England
and Wales. The register is used by individuals, families, organizations,
government agencies and law firms to register their will. There are over 8
mi Read More »
There is a lot of talk around the importance of writing a will to ensure that
your money, property, and other assets are bequeathed to the family members or
children that you wish to nominate as beneficiaries of your estate.
However, did you know that there are certain types of financial assets and
property that you should not or cannot include in your will?
These types of assets are usually jointly owned or contain some sort of
instruction that dictates what happens to the property should you Read More »
If you have recently been considering making a will then you may have stumbled
across one of the many online will writing services.
While this may look like a fast, efficient way to prepare your last will and
testament, it may have left you with some unanswered questions.
Here we will take a look at the positives and negatives of using an online
service for your will preparation.
Pros
Convenient
Preparing a will online saves a trip to the solicitors office and means that you
can write your Read More »
If you have documented your wishes that are to be carried out after your death
in the form of a will, you will need to review it periodically.
Having your estate and finances distributed to people of your choosing can be
handled legally by way of a will. However if your circumstances change you may
want to alter things like beneficiaries or change assets that are bequeathed to
a specific person.
Life brings about many changes and there are a number of instances where you may
need to amend your Read More »
