Wills and Probate
A will is the legal declaration of the intention of an individual, the testator, regarding his or her property and estate which is designed to be carried out after his or her death.
A Codicil may be added to an existing will in order to amend or alter it without the need to have a new will drawn up. An executor is the person appointed by the testator of the will to execute it. The executor is usually the person who will offer the will for probate. If the executor does not wish to act or a person has died intestate, i.e. without a will, the court can appoint an administrator to implement the will .Any individual of adult age and sound mind can be an executor. Probate is the legal process of administrating the will.
Every adult should make a will for three main reasons. Firstly a will enables the individual to decide who benefits after their death. If a person dies intestate, without a will, the individual’s assets may end up going to someone who they would not have wanted to receive them. Secondly there are some simple things that can be added in to a will to help avoid or at least reduce inheritance tax. Thirdly and possibly most important to many people is that it is possible to make provision in a will for a guardian to look after any children in the event of a testators death.
Although it is possible to write your own will or go to a will writer, who is not a lawyer, it is advisable to get a lawyer to write your will. Lawyers pay insurance premiums to cover there clients should something go wrong and are trained in will and probate law which should minimise the risk of any discrepancies that can result in family feuds once a person has passed on.
Wills and probate lawyers in United Kingdom deal with the complications involved in the formation, manipulation, and execution of wills. Nowadays disputes among families regarding estates and properties provided for in wills are very common. A person who wishes to make a will can approach a will and probate lawyer to make the will legally. People who wish to dispute a will can also use these lawyers to act on their behalf.
A will and probate lawyer will usually be able to provide advise in the following areas as well as making a will: Inheritance and tax planning – there are things that can e done whilst you are alive as well as provisions in your will to help minimise the amount due; Probate and administering an estate – guidance through this legal process; Powers of attorney and Court of Protection – a power of attorney is legal permission for someone else to act on your behalf; and Asset protection.