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Making A Will
When it comes to ‘will writing’ and ‘wills Middlesbrough, Complete Estate Protection have got you covered. Making a will is a highly personal decision. Each person has their own preferences in terms of where their money and property go and it’s therefore important to get these preferences in place before the time comes.
Whilst most people assume their closest family will inherit their money and property when they die, if they don’t make a will, this isn’t always the outcome and there can be a multitude of issues left behind when no will has been made. Loved ones clearly come first when making a will, but individuals might also consider donating to charity.
A will is a legally binding document that shows your requirements and wishes for how your assets will be distributed and who will manage your affairs after you pass away. Making a will is an important step in making sure that your family and loved ones are taken care of and your property is distributed according to your requirements.
It can also help to reduce conflict and uncertainty after you are gone. Ultimately, making a will is about protecting those most precious to you. Should you need more information about our will writing services, or if you require ‘wills Middlesbrough’ get in touch with our team today. Our will writing services are available throughout the North East including Middlesbrough, Guisborough and Stockton on Tees.
Why Do I Need A Will?
When it comes to will writing, a will gives you the peace of mind that your wishes will be respected after your death. It also gives law and legal clarity on where your assets are distributed and ensures that the process is smooth for your loved ones, especially considering the difficult time.
Up to 70% of people die without making a will, which can throw up many legal (and expensive) issues should there be a discrepancy over where your estate should be left.
Many people believe that everything will go to their family when they die, but the law will ultimately decide if there is no will in place. The family could be left with nothing or with expensive legal costs in contesting how the estate is distributed.
Without a will, there is simply no guarantee – unmarried couples and other dependents may not inherit where there is no will if their partner suddenly dies, even if they live together.
Even if you believe that you don’t have anything to leave, everyone owns something, whether it is jewellery, furniture, money in the bank, a house (with or without a mortgage), a car or even a business.
You should also consider any online accounts and anything digital – what happens to these when you die? A will can deal with all of this and make sure that the right people have access to, and receive your assets.
As a specialist in ‘wills Middlesbrough’ When it comes to will writing, it is essential, will writing involves creating a legal document that will outline how a person’s posessions, assets and estates are going to be distributed after death. Wills can also include naming guardians for any minore or children and an executor who will be responsible for the will. When it comes to writing a will, first, you should decide who you want to inherit your assets and possessions, this can include a range of people, from family members, friends, charities and other organisations. It’s important that you decide who you’d like to name as your executor as well as any guardians for your children.
Once you have made your decisions and included them in your will writing, you will then need to speak to a solicitor who will specialise in estate planning. The solicitor will draft the will and make sure that it accurately reflects your wishes and requirements, they will also ensure that it meets the necessary legalities. When you choose a professional will writing firm like Complete Estate Protection, they will also be able to advise you on your will as well as any other estate planning matters.
Storing Your Will
If your will gets lost, stolen, damaged or tampered with, it will become invalid. It’s important that it’s kept somewhere safe, preferably away from the home in a secure fireproof location. We offer all our clients storage facilities in a secure registered fireproof location and also registration on the National Will Register so in the event of anything happening to your will it is always locatable and safe.
People may typically change their will 3-4 times during their lifetime. Circumstances change, people move, die and sometimes fall out with family or friends. Your loved ones may also grow, with grandchildren or great-grandchildren to take into account. If things do change it’s important that your will reflects your latest wishes and is updated accordingly and in a timely fashion.
A Legally Binding Will
A legally binding will is a document that specifies how a person’s assets will be distributed after their death. To be legal, a will must meet certain requirements, once a will is deemed legally binding, it becomes the final statement of the testator’s wishes, and its provisions will be carried out after they pass, subject to any legal challenges that may arise. It is important for anyone considering making a will to seek professional advice to ensure that their needs are properly documented and that the will is legally binding.
Wills and Inheritance Tax
When it comes to wills and inheritance tax, it’s important to understand that the tax may be levied on the estate before anything is distributed to beneficiaries. This means that if the value of the estate exceeds a certain threshold, the beneficiaries may receive less than expected, as a portion of the wills contents may be used to pay the tax.
Why Choose Complete Estate Protection To Write Your Will?
Writing a will without proper advice could mean that your estate is not distributed properly on your death and could lead to mistakes and the will being invalid. Complete Estate Protection are experts in wills and a proud member of the Institute of Professional Will Writers, as well as covering all of the local area with our ‘Wills Middlesbrough’ services.
We understand the potential pitfalls, and will ask you all the right questions to make sure that you have considered every possibility. Our experienced team will help you with your will in a way that considers all your personal and financial circumstances. We will offer help and support to guide you through the process to ensure that you have properly provided for your close ones when you pass and make things easier for those left behind. We also provide services covering probate, lasting powers of attorney and estate planning.
Our costs are transparent and upfront, ensuring that you know exactly what is coming and you understand what is involved. Contact us today. We also provide information surrounding lasting powers of attorney, trust and estate planning, probate and asset protection.