Putting Your Will Off

"Death does not take the WISE man by surprise, he is always PREPARED to leave" - Jean de la Fontaine (1621 - 1695)

Are you wise? Are you prepared? Death is the one engagement that we all have to keep! We all hope it is later rather than sooner.

What if you died tomorrow?

• Would your wishes be carried out exactly as you want them?
• Would your loved ones receive exactly what you wish them to have received?
• If you have children that are dependent how are they to be provided for?
• If you are divorced, is the wrong person going to have a claim on your estate?
• If you have step children, they are not provided for unless you detail it in a Will.

Without a Will - The Prince of Wales may inherit your estate

If you have not made a Will, it could be months or even years before the people who you care about can look after your affairs.  As well as the general pain it may also cause financial difficulty.

Worse still, if no person has a claim on your estate and you have not made a Will then all your estate passes to the Crown (The Government) or it becomes the property of the Duchy of Cornwall (Prince of Wales) or the Duchy of Lancaster (if you live in those areas).

Contact us and arrange your family's future.

More FAQ:

Registering the Death

You will first need to register the death with the Local Registrar of Births, Deaths and Marriages.  The certificate is free although a charge will be made for certified copies which are needed to start the probate process as well as supplying others such as bankers and insurance companies.  

What is Probate?

This is the proof of having legal authority to sort out the affairs of someone who has died.  If there is a Will the person who seeks probate will normally be the executors of the Will.  If no will has been made then people will need to apply to the Probate Registry for "letters of administration" and be appointed as administrators.

Executors:  are appointed in the Will to look after the estate

Administrators: when no Will has been made, the Probate Court appoints suitable administrators (it could be family) and issues Letters of Administration.

Probate Process

• The Executors or Administrators calculate the value of the estate
• The Inheritance tax bill is calculated – Speak to us about calculating the inheritance bill.
• Any tax bill is paid, this must be paid before probate is granted although many will grant provided paperwork, proof of tax bill, calculations and original Will is submitted to Probate Registry
• Grant of Probate issued
• Executors of Will now have power to take control of assets
• Depending upon how long it has taken to resolve, if profits, gains or income were received, capital gains taxes or income taxes may be due for the period between death and distribution of estate to Will beneficiaries
• Assets are distributed in accordance with the Will i.e.  the estate is then wound up.

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