A Will is the best way of ensuring that those whom you want to inherit do inherit and that your Estate is dealt with in the cheapest and most efficient way possible.
There are all sorts of things we need to do but don't. We put them in a box at the back of our minds and throw away the key, safe in the knowledge that they will have to be done eventually (although a specific date is never set, of course). It might be domestic bugbears like cleaning the fridge or getting the dog (or child, or self) a haircut that fall by the wayside. Or perhaps you've always wanted to write a detective novel or travel to some far-flung corner of the world. Realising these things can be a challenge - but having said that, putting your head down and getting on with your to-do list can bring real satisfaction.
Writing a will is one of the things people often put off. But whatever age or stage you are at, having a properly drawn up Will ensures that you have complete peace of mind in knowing that your affairs are in order and that your future intentions will be properly met. The consequences of intestacy (not having a Will) can be adverse and distressing to families.
If someone dies without leaving a Will, their estate will not necessarily be inherited by their husband, wife or partner. The law will decide what and how much should go to each relative. If someone dies without leaving a Will and there is no family, everything will go to the Government. Whoever inherits, a Court application will be needed to appoint an executor. As a condition of the appointment, the Court will require that an insurance policy is put in place to guard against wrongful actions by the executor. As the cost of the policy is based on the value of the estate, it can be expensive, and the need for this and a Court application will cause delay.
I Don't Have a Will - How Do I Get One in Place?
Contact Blair Cadell and speak to one of our Personal legal experts. You will be asked for some details and background information in order to assess your needs. A draft Will will be drawn up reflecting your requirements and objectives, followed by a principal document for signing. A face-to-face meeting is usually arranged although the process can sometimes be completed just by 'phone or e-mail.
Blair Cadell are a leading firm of Edinburgh solicitors, dealing in a wide range of property, business, tax and personal legal services.