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MAKING AN ENGLISH WILL
Reasons for making a Will
Under English law, there are many good reasons for
having a professionally drawn will:
• You can specify who you wish to receive your assets
• You can nominate your executors with responsibility
for administering your estate
• Your family will be spared the uncertainty of intestacy.
• If your affairs are complicated or if you own a business
the worries of acting as executor can be passed to professional
persons
• If you have young children guardians can be appointed
and arrangements specified for the children's welfare
• Trusts can be set up in your will to take care of dependent
relatives, or ensure that assets are passed to future generations,
or protect spendthrift beneficiaries from themselves
• If you have children from a previous marriage steps
may well be possible to provide for your husband or wife,
whilst ensuring that your assets pass eventually to your children
• Steps can often be taken to reduce or postpone inheritance
tax.
Other points may come up during discussions, such as how
to save some tax or that you need a non UK will or to restructure
how you own property outside the UK
Writing your own Will
It is possible to buy a stationer's will form or write
one out yourself, and there are many websites which can help
with this. If you are wealthy, this is probably not appropriate,
because:
• It is easy to use ambiguous words.
• The law stipulates very precise requirements for execution
of a will.
• The cost of a professionally drawn will is a relatively
low cost for peace of mind and the expenses that can arise
if there is not one.
• Every private client lawyer has a tale about a home
drawn will which had disastrous effects - perhaps resulting
in the relatives spending a large part of the estate trying
to resolve matters in court.
How Charles Russell can help?
We have a team of specialist lawyers who deal with wills
and can help and advise on a number of aspects relating to
a will and can:
• Make a will for you
• Advise on potential inheritance tax savings
• Advise on the appointment of executors or act as executors
ourselves
• Advise on any special requirements relating to business,
property or farming interests
• Advise on trusts
For further information please contact:
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