Wills & EPOA
One that is certain in this ever changing world, is that, sooner or later, every one of us will die.
A person’s estate (i.e. their financial assets) will pass according to the general law to the beneficiaries of that estate. A person can make a Will which is a written document set out in a specific format, in which they can set out to whom they wish their assets to pass on death. There is no obligation to make a Will but you may wish to consider doing so for any one of the following possible reasons:
- 1. There are certain people you may wish to benefit from any money or property which you own at the time of your death.
- 2. There are certain people you do not wish to benefit on your death who would otherwise have benefited under the general law.
- 3. You wish to give all or a large proportion of your financial assets on death to charity or to a religious institution.
- 4. The nature of your estate is such that it would be better to divide it up sensibly and give specific items to specific people rather than sell everything and divide the proceeds among the beneficiaries under the general law.
- 5. You want to reduce the sum payable to the taxman out of your estate before your beneficiaries receive anything.
- 6. You want avoid potential family conflicts after your death by making your wishes clear in writing.
People who are separated but not divorced should be particularly careful as should couples living together who are not married. It is very important for anybody in these circumstances to make a Will.
Many couples make Wills, which mirror each other so that, for example, a husband gives everything to his Wife but if she should predecease him then his entire estate is passed to their children in equal shares. We are happy to take instructions and prepare two Wills like this for an agreed fixed fee. This fee covers both Wills (i.e. for each partner).