Reasons for Making a Will

If you have children or dependants, or if you wish to protect your estate from a large Inheritance Tax bill, it is important that you make a Will. There are a range of circumstances where Wills are essential: 

• You are in a relationship or marriage where there are children from previous relationships.
• There is discord within your family.
• You have parents or children suffering from a disability.
• You wish to protect particular assets or reduce potential Inheritance Tax liability. 

Unmarried People

If you are not married to (or in a civil partnership with) your partner, it is particularly important that you make a Will. The law does not automatically give partners the same rights to inherit as spouses and civil partners. If you do not have a Will, there is a risk that your partner will inherit nothing from you. Unmarried couples living together can also benefit from making a cohabitation agreement.

Making A Will To Provide For Your Children

If you have young children, you will want to specify a guardian to look after them in the event of your death. Making this choice in your Will, can help avert family disputes and ensure your wishes are carried out.

You may also want to invest money in a Trust until a child reaches 18 or older. We will recommend the best way to provide for this in your Will and help you to appoint suitable Trustees. 

Taxes and Trusts

It is a misconception that making a Will is only for wealthy people. Most people will benefit from having a Will, and it may be that your assets are worth more than you thought. At Fraser Dawbarns we can offer advice and guidance on how best to plan your estate, taking account of potential Inheritance Tax. Our solicitors can help maintain your assets to benefit your family and beneficiaries.

Our advice is practical and actionable whether your estate is smaller or larger and more complicated. With specialists in Trusts, Income Tax and elderly care, we have the right person to deal with your case. We provide an advice service on wealth management, Inheritance Tax and Trusts. We will give you the information you need to ensure that your wishes are met when writing your Will and planning for Inheritance Tax. 

Avoiding Challenges to Your Will

Using a solicitor to write your Will is a good way to protect yourself against future disputes regarding your estate. A solicitor will understand what could potentially be challenged and can advise you on making a Will that is legally valid and less likely to be disputed. 

Intestacy

If you do not have a valid Will when you die, this is referred to as dying intestate. Your estate will be subject to intestacy rules which govern what will happen to your assets. There is a good chance that these rules will not be how you would have chosen to divided your assets. Read more about the intestacy rules here.

https://www.gov.uk/inherits-someone-dies-without-will

Keeping Your Will Up to date

You should review your Will every 5 years or after any major life change, such as marriage, divorce, having children or moving to a new house.

If you need to make a major change to your Will, it is often best to have a new Will drawn up. If the changes are less significant you can make minor alterations to your existing Will with a separate document (a Codicil). Our solicitors will provide advice on the best way to make any necessary changes. 

Keeping Your Will Safe

Once you have finalised your Will, it is essential to keep it safe and to tell your executor or a close friend or family member where it is. At Fraser Dawbarns, our clients benefit from a free storage service so they can be sure that after making a Will, it will be kept safe. As well as storing your original Will for you, we will send you a copy.

Other Related Services

Lasting Powers of Attorney

Making a Will allows you to specify what will happen to your assets on your death, but you can also make provisions in case you are incapacitated through an accident or ill health. You can appoint a trusted family member or friend who will look after your financial affairs, including paying bills on your behalf, or to make health and welfare decisions on your behalf. Find out more about our Lasting Power of Attorney services.

Executor service

Executors deal with your Estate in the event of your death. You need to decide who you want to carry out the wishes expressed in your Will. We can help you with your decision and if you wish, a partner from the firm can act as your Executor. Find out more about our Probate services.

Wills and Estate Disputes

If a dispute has arisen around an existing Will, and you would like help with this issue see our Will and Estate Disputes service page.

Making a Will With no Hidden Charges

Fixed Fee Wills

Fraser Dawbarns offer a fixed price Will writing service for a straightforward Will and when writing mirror Wills for couples. At Fraser Dawbarns you will know in advance exactly how much your Will is going to cost you. Please contact us for details of the fixed fee.

If you have more specific and complex requirements from your Will, we will give you an estimate of the cost when taking your instructions. We are transparent about our fees and we will never add any hidden charges.