Making a Will: (for information on Probate click here)
Everyone should make a Will. By outlining your wishes for your estate in your lifetime you can avoid any unecessary complications, anxiety or financial hardships for your grieving family. Don't leave it to chance! A properly made Will provides peace of mind.
You can prevent leaving lifetime savings, property and belongings to the Inland Revenue. It will give you peace of mind, knowing that your family will not be subjected to any expense or complex issues that may result from intestacy (dying without a Will).
By making a will, you can make adequate provision for your children and any stepchildren you may have. Where there is no Will stepchildren can sometimes lose out and there are restrictions placed on how assets are dealt with and looked after for your children. A will also enables you to guardians for your children to ensure they are properly looked after. In the same way, you can also make provision for your partner or any other dependants (for example an aged relative).
Making a Will can help avoid family disputes that could arise over the right to administer your estate. You can specify how your estate can be divided amongst your chosen beneficaries. You can choose the executors and trustees (the people who actually deal with the estate. Executors can be friends, relatives or even your solicitor or a combination of all of them. You can even leave instructions for funeral arrangements.
If you would like to make a Will, Evans Derry Binnion can arrange it for you. The legal costs of making a Will are relatively small and we are happy to give you a quote on your requirements. If you would like to discuss the matter with us you can call on Tel: 0121 770 1721 or use the online enquiry form or email the department.
Probate: (for information on making a will click here.)
When somebody dies it is important to make sure that the estate is administered efficiently and sympathetically. If the deceased has made a Will then this will give instructions as to how they wished the estate to be distributed.
If there is no Will then the estate will be distributed in accordance with the Law which is known as the Intestacy Rules.
It is necessary to gather together details and information about the deceased’s assets and liabilities. If the net value of the deceased’s estate is under £5,000 then it can often be collected and distributed without the need for Court approval. Where the value of the deceased’s net assets is in excess of £5,000, then it is necessary to get Court approval. This is in the form of a Grant of Probate where a Will exists or a Grant of Letters of Administration where there is no Will. This is the legal authority given by the Courts to enable the Estate to be gathered in and distributed. Evans Derry Binnion can advise on all aspects of dealing with these matters.
Mark Evans is the partner responsible for the drafting of wills and administering probate.
If you would like to contact Evans Derry Binnion regarding a matter of a deceased's estate then call: Tel: 0121 770 1721 or alternatively use the online enquiry form or email the department on probate@evansderrybinnion.com