A Will is a means by which a person may set out their wishes in respect of their estate in the event of their death. It might detail the deceased’s wishes for funeral arrangements and go into as much or as little detail as required, perhaps even detailing music and a venue for the wake!

However, the main reason for a Will is to set out how one’s estate is to be handled and eventually distributed. It is normal to appoint an executor to the estate who has authority to act in accordance with the terms of the will. This might be a family member or a professional person, such as a solicitor. If the latter, fees will be payable.

Of course, if there is no will, how your estate is distributed is dependent upon law and in general terms, in England and Wales, if you are married, your spouse will inherit the first £250,000 after tax with the remainder split between the spouse and any children. If unmarried then your partner gets nothing and it all passes to your blood relatives. If you have children, a Will is the only way to appoint guardians of your choice. Otherwise, the State will decide. This might result in your children being wards of the State. Furthermore, if you remarry, any former spouse or blood relatives will lose any claim they may have had under a former Will.

Clearly, therefore, not having an up-to-date will is a bad idea.

To speak to our Wills and Estate Planning team contact us on 01628 507477.

Download our Free First Time Buyers Guide

Recent posts

Choosing which fixed rate to go for has been a dilemma for many of our clients so far this year. There really isn’t a right or wrong answer, but below we will look into the pros and cons of a two-year and five-year to help you make the right decision for you.

Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.

Call us for more information: 01628 507477 or email: team@mortgagerequired.com.

According to Rightmove, a whopping 500,000 UK homebuyers are rushing to finalise their home purchase before the new Stamp Duty rules change in April.

The UK government is introducing new rules for Energy Performance Certificates (EPCs) that will impact landlords. Here's a summary of the key changes

Choosing to buy a house is one of the biggest decisions you are likely to make in your lifetime. There are many factors that influence a house purchase, these include: finances, housing market conditions, and mortgage rates.

Since being launched back in 1999 Individual Saving Accounts (ISAs) have been very popular for those wanting to put money into savings. There are four types of ISA, and the majority allow flexible saving and the ability to withdraw funds easily. There are financial penalties on certain products, these usually pay the most interest.

According to the Office for National Statistics, last year (ending March 2024), there were 153,800 new homes completed in the UK. To help the housing crisis, the UK government has pledged to build 1.5 million new homes in the next five years.

Check out some of the reasons why a new-build home might be for you.

Many households are still being affected by the high cost of living, with several people worrying about how they can make ends meet on a monthly-basis. Unfortunately, the cost of bills including, water, council tax, and energy are still rising. Here are some things you can do.