In your lifetime you’re likely to have accumulated some money, possessions, maybe a house or houses or maybe a combination of all of these – we call these assets of your ‘Estate’.
Creating a Will informs everyone what should happen to your Estate should you die. It sounds straightforward but without a Will those that you leave behind can sometimes be in for quite a shock. It could mean that someone who should not benefit may in fact do so, for example an estranged family member.
So making a Will keeps it easy for your family and friends. It says exactly who should inherit your Estate – we call these people the ‘Beneficiaries’. It will also state who should be responsible for your Estate whilst the paperwork side of things is being dealt with – we call these people the ‘Executors’.
The Executors are responsible for collating all details of your Estate, paying any tax that may fall due, and paying the Beneficiaries their Inheritance. This can all be a bit complicated; your Executors need to be trustworthy, responsible, and capable and quite often the Executors may need some help, which we can provide.
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