The Ministry of Justice Guidance on legal practitioners in the key worker category include Solicitors acting in connection with the execution of wills. We are continuing our usual practice of arranging meetings albeit now online or by telephone appointment.
Writing a will is a combination of thinking about what you want to happen after your death given your circumstances and how tax impacts your thinking/assets.
The key points to cover in thinking about a will are first to identify your assets and then:
- Who you name as executors? Their job is to wind up your estate and settle your debts including Inheritance Tax due to HMRC. Beneficiaries can act as executors;
- If you have minor children; who will be their guardians on the death of the 2nd parent?
- If you want to detail any funeral wishes (e.g. burial or cremation) and if you would like a religious service?
- Details of any gifts of money to be made on your death or gifts of personal possessions;
- Details of any gifts to charity to be made upon your death; and
- Details of the person or persons you wish to receive your residuary estate being those assets remaining in your estate after all taxes, debts, legacies and administration expenses and if more than one the order of priority amongst those persons e.g. to my spouse/civil partner if s/he survives me; otherwise to my children equally and if any have predeceased me their share to their children at 18 otherwise all to my surviving child/children and if none to charity.
If you think I might be able to help, please get in touch.