Wills

What is a Will?
Your Will is simply a legal document that makes your wishes quite clear, as to what you would like to happen to your money and property after your death.

Why make a Will?
A lot of people think that they do not have anything to leave, so what is the point of making a Will?

But if you can answer, “yes”, to any of the following questions, then you do need to make a Will.

1. Are you a home owner? Or own a share in a property?
2. Are you married or in a registered civil partnership?
3. Have you got children?
4. Are you cohabiting with your partner to whom you wish to leave something when you pass away?
5. Have you recently separated from your spouse/civil partner?
6. Do you have any death-in-service or lump sum entitlements that may pay into your estate if you pass away?
7. Have you remarried and want to make provision for your extended family?

This is not an exhaustive list and there are many other reasons as to why you should make a Will.

Making a Will can put your mind at rest, ensuring that your hard-earned assets are dealt with according to your wishes. If you die ‘intestate’, that is, without a Will, your assets will be distributed by set rules which may well not reflect those wishes. For instance, unmarried partners and step children are not legally able to benefit from an estate without a Will. There also are restrictions on how much a surviving spouse can inherit which are unlikely to be what many people would want.

A Will can also be a useful mechanism for tax planning and protecting your wealth for your family members.

Importantly, having a Will makes it easier for your relatives to deal with your estate in that difficult time after your death.

In order to make sure that your Will reflects your wishes correctly and can be executed without difficulties it is always advisable to seek legal advice when drawing up a Will. Glazer Delmar can help and advise you on all aspects of your Will. Our considerable experience in this area means we can offer sympathetic advice and flexible solutions that will be relevant to your individual circumstances.

What can I include in my Will?
It’s your Will, and it must reflect your wishes in the way that you want. It can be as straightforward or as detailed as you require. We are here to help, advise and ensure it is just as you would like it.

Here are just some of the things that you can specify in your Will:

• name relatives, friends or professionals who you trust, as executors, to administer your estate after your death, according to the terms of your Will
• appoint someone to be a guardian for your children
• provide for your family just as you’d like to
• leave treasured possessions or other assets, including pets to people who you know would love and care for them
• give money to charities, your place of worship, or to friends
• make provision for your partner if you are unmarried
• give someone the right to live in your home for a certain time after your death
• state your funeral wishes
• create trusts, which specify what certain sums must be spent on (e.g. a child’s education)
• minimise possible liability of your estate to inheritance tax

We are able to give you expert advice on these or any other requirements. We will also consider with you, any possible consequences for your beneficiaries of the gifts that you are leaving them in your Will.

All Wills should be reviewed at least once every 5 years or when your circumstances change. Please note that a marriage automatically revokes an existing Will, unless the Will has been drafted in contemplation of that happy event.

What about ‘Homemade’ Wills?
There are numerous DIY or ‘Homemade’ Wills on offer, but we strongly recommend that you seek legal advice before making a Will. A homemade Will or a Will made online can lead to horrendous problems as they have not been drafted by a legally trained person.

Here are some of the common issues that we have encountered with homemade Wills:

•  the Will has not been signed and witnessed correctly, which leads to the Will being declared invalid and therefore the estate may be administered under the Intestacy Rules and your intended beneficiaries receive nothing
• a beneficiary or their spouse is also a witness to the Will, which invalidates any legacy or share under the terms of the Will for that beneficiary
• changing your Will after it has been signed or marking it in any way, can lead to the Will being seen to be tampered with and thus invalid
• even if you have deliberately left certain beneficiaries out of your Will, depending on their relationship to you, they may still be entitled to claim (under the Inheritance Provisions for Family and Dependants Act 1975) against your estate

CODICILS

What is a Codicil?
A Codicil is a legal document which amends or changes your Will. It is read or presented alongside the existing Will.

Why make a Codicil?
Adding a Codicil is an easier (and cheaper) way of changing something in your existing Will without having to make a complete new Will. It is useful if you want to make small changes. If you want to change a substantial number of things in your Will, or if you want to change the main gift, then we would suggest that you do make a new Will.

What can I put in a Codicil?

A Codicil would be useful if any of the following small changes apply:

• you wish to change an executor. (Someone previously appointed may have died, moved abroad or simply be unsuitable now)
• you wish to add in the appointment of a guardian. (Because you now have a child or children, and did not when you made your original Will)
• you wish to add in a small cash gift to one or more people
• you wish to take out one particular clause of your existing Will 

 

LIVING WILLS/ADVANCE DECISIONS

What is a living Will?
A living Will is a document which allows you to express in writing what type of medical treatment would want to receive, if any, in the event that you are unable to communicate this information or have lost the mental capacity to do so.

It may also be referred to as an “advance decision” as it is a means of setting out your wishes in advance of such a medical situation arising.

Why make a living Will?
An advance decision to refuse treatment allows people to set out what particular types of treatment they would not want to have, should they lack capacity to decide this for themselves in the future. It can be about any treatment they do not want, even if the refusal may result in their death.

If a person has made an advance decision refusing a particular medical treatment, and that advance decision is valid and applicable, then the decision should be followed and treatment should not be provided.

The Mental Capacity Act 2005 puts advance decisions on a statutory footing and also explains what is required in law for an advance decision to be valid and applicable. In addition, the Mental Capacity Act introduces new safeguards to prevent the misuse of advance decisions.

This is a complex area and if you need more detail we shall be pleased to advise you further.

What can I include in an advance decision?
This is a very personal document relating to your own particular medical situation and preferences. It should ideally be drafted in consultation with your doctor or medical professional.

STATUTORY WILLS

What is a statutory Will?
This is a Will which is made on behalf of someone who no longer has the mental capacity to make a Will themselves. Its purpose is to protect their interests and it is done by way of an application to the Court of Protection.

Why make a statutory Will?
It may be desirable for someone to make a statutory Will for any of the reasons outlined in our ’Wills’ overview.

It may also be necessary to make amendments to the existing Will of someone who has now lost capacity to do so. Some examples of when this may be appropriate are:

• if the executors appointed in an existing Will have died or lost mental capacity themselves
• if it would be possible to save money in the estate through tax planning
• if further gifts should be included in the Will
• if particular beneficiaries need to be removed from a Will

Contact us
If you would like to talk to us about any aspect of drawing up a Will, please get in touch.
Call 020 7639 8801 or e-mail willsandprobate@glazerdelmar.com


Click here to download our 'Will Questionnaire'