Wills
If you die without a Will in place, it is important to understand the implications and key is that the law will decide who should receive your assets. You should therefore get the right advice when preparing this document – we can help.
Disputes around Wills and distributing the estate of a loved one are common and we can support you through what is often a stressful time. Find out more about how we can help if you are involved in a dispute over a Will, by clicking here.
Preparing a Will
Preparing your Will may feel like a daunting and often emotional prospect, but we can guide you through the process and support you in your decision making to ensure that your wishes are followed when you are no longer around.
Key benefits of preparing a Will
You can:
- protect young or vulnerable beneficiaries
- appoint guardians to look after your children under 16
- protect a family business
- protect assets from care home fees if the survivor requires care
- secure assets for the next generation
- deal with complicated family matters
- minimise potential Inheritance Tax liabilities
We can also provide guidance around second marriages and modern family structures as well as specialist expertise to those with rural businesses e.g. farms who may have broader considerations around succession and the continuation of the family business. We can also advise on how and when to update your existing Will.
What rights do family members and cohabitants have?
Here in Scotland, your spouse or children have automatic rights to inherit from you, even with a valid Will in place stating otherwise. Spouses/civil partners, children and their descendants have “Legal Rights” to make a claim on your “moveable” estate. This includes things like money, shares, vehicles, jewellery etc but normally excludes land and buildings. This is very different from the position in England.
Legal Rights don’t include cohabitants (couples living together but who aren’t legally married or in a Civil Partnership) as they have limited rights to claim on a deceased partner’s estate.
However, the process of dealing with “Legal Rights” need not be complicated and we can guide you through your options and the executry process.
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Key contacts
We understand that your circumstances maybe complex and sensitive and you may feel apprehensive about speaking to a lawyer – we can help. Our experienced team can guide you through the process of creating or updating your Will and provide reassurance and support in planning for the unexpected. Get in touch with one our team to find out how we can help you.
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We understand the need for discretion and that you may not be clear on your options or indeed the process of instructing a lawyer. If you would like to arrange for someone in our private client team to get in touch at a time that suits you, please provide a few details.
A very client-focused approach to business which has not only made the process a pleasure, but also ensured that even the most complex issues are understood by one and all.
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