What is a Will?
Wills are the only way of ensuring your assets ultimately go where you want them to go when you die. They can also be used for funeral instructions and to appoint a guardian (for example, someone to look after young children).
Without a Will:
- Your assets won't automatically pass to your spouse or next of kin
- The courts will decide what and how much should go to each relative
- If you have no relatives, everything will go to the government
- People who aren't relatives have no right to inherit (though a cohabitant might if they raise court proceedings and meet certain criteria)
- The courts will decide who to appoint as executor and require an insurance policy to be put in place to guard against wrongful actions by them
As you can see, a lot of headaches (and expenses) for your loved ones can be avoided if you make a Will.
How a Will works and what it costs
If you're in Scotland, we can make the process of setting up your Will easy, no matter your needs. It will apply to all your assets in the UK. Although this can also be true of assets outside the UK, we recommend consulting a lawyer in the local jurisdiction, as this is not always the case.
Our legal experts will get all the information they need from you to draw up drafts, and we'll review everything thoroughly with you before making it official.
Our prices vary depending on complexity, but start at £300 +VAT. If you and your partner are completing similar 'mutual' Wills, the second one will cost less.
We'll be able to give you a full quote after we've spoken to you and understand your needs. A few of the things we'll ask about include:
- Current and/or previous marital or partnership status
- Legal rights of any spouses/partners and/or children
- Tax planning or liabilities
- Trust provisions
- Property or assets owned abroad
- Business assets
- Guardianship of children
Your Will shouldn't take more than a few weeks to complete. We can also help you update your current Will, which is a prudent thing to do if your circumstances have changed (marriage, divorce, children, etc.). Again, the cost will depend on complexity, but prices start at £165 +VAT.
If you're interested in completing a 'living Will' (sometimes known as an 'advance medical directive' or 'advance decision'), which would detail the circumstances under which you would not want to receive treatment if you became unable to communicate your wishes, our legal experts can advise you on this.
