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WILLS PROBATE & TRUST DEPARTMENTFREQUENTLY ASKED QUESTIONS Why make a Will? It is the only way to make sure that your wishes are carried out after your death. If you do not make a Will the Law decides who gets your estate, not you.What does a Will cost? Wills are not expensive and a properly drafted Will can save your estate paying thousands of pounds in unnecessary Inheritance Tax. In addition, a homemade Will, although cheap to purchase, can be ineffective or may even cost your estate thousands in rectifying matters. Who are Executors? Executors are the people you appoint to deal with your affairs. You can appoint anyone you wish and your Executors can also be beneficiaries. What happens when I die? If you die without leaving a Will, then your estate is divided according to strict rules laid down by Parliament. If you have left a valid Will, then your Executors will administer your estate to make sure that your wishes are carried out. It is important that the Executors seek professional advice, as Inheritance Tax savings can be made even at this late stage. How much will it cost? The cost of administering an estate depends entirely upon the complexity of the matter and the type and value of assets involved. You will be given an estimate of the likely costs involved at the outset of the matter. What is a Power of Attorney? Enduring Powers of Attorney ceased to be at the end of September 2007. From 1 October 2007 a new document called a Lasting Power of Attorney came into force. Please telephone 01209 213646 and speak with Mr Alan Gates for more information on this. What is a Living Will? Living Wills allow people to state what forms of treatment they would or would not like carried out should they become unable to decide for themselves in the future. I want to make a Will what is the next step? Please telephone 01209 213646 to make an appointment with one of our specialists (Mr Alan Gates or Mrs Diane Meteyard). What should I bring to our first meeting? Please help us to help you by bringing as much information as possible on what you own and its value, together with the names and addresses of your Executors, beneficiaries and if applicable Guardians.
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Thurstan Hoskin Solicitors, Chynoweth, Chapel
Street, Redruth, Cornwall, TR15 2BY |
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