succession

Changing your Will

 
This can be done very easily.

A simple change, like a legacy to a charity or to a favourite niece, nephew or grandchild can be achieved by a small addition to your Will called a “codicil”.

If the change is more complicated, it may require the whole Will to be rewritten. We can do both of these for you without any great difficulty.

However, it is important to remember that adding a codicil to your Will is just as formal a procedure as making one and it must be done properly.

If you get married or enter into a civil partnership, any will you may have previously made will be cancelled and it is imperative that you make a new one.
 
Divorce or dissolution of a Civil Partnership will also affect the interpretation of your Will.

In any event, we would strongly advice that you review you will on a regular basis, perhaps every number of years, to take into account any significant change in your circumstances such as inheriting property, buying a home or perhaps even winning the lottery!

How much will it cost?

A straightforward Will may cost as little as £100 (+VAT). Contact us to discuss your individual needs and we will provide you with a personalised quotation. Remember, in making a Will, what you are actually paying for is the future peace of mind of your loved ones. The cost to those you leave behind may be much greater if you don’t make a Will. Think of them – make a Will… it could cost them if you don’t.
 
Next Steps

Contact us to arrange an appointment at a time that suits you.
 
Make a list of all of your assets:
Your home pension provisions insurance policies bank and building society accounts stocks and shares, etc.

Make a list of who you want to benefit from your Will:

Please include the full names and addresses of the individuals and/or charities you wish to benefit.

Select an Executor:

Your executors will deal with your financial responsibilities after your death. You should pick people whom you know and trust. Your partner, reliable friends or relatives would be suitable. Alternatively, we can deal with this for you or act as co-executor with a member of your family.

Bring all of this information with you to your appointment and we will discuss your individual needs.

You may think you are too young to make a Will; you may think that you are not rich enough, maybe you have never thought about it at all? But the best time to make a Will is now, when you are healthy and in a state of mind to properly prepare for the future of your children and those who depend upon you.

If you die without a Will, it will, beyond bereavement, place an additional and onerous burden upon your loved ones.

Many questions may arise:
Who will look after your children? Who will bring them up the way you would like to? Who will make the decisions that shape their futures? Who won’t dictate their futures? What will happen to those you want to go on living in your home? Who will get your most valued possessions? Who won’t? Will your partner continue to have the use of all that you have built up together? Will your partner have enough to live on?

All of these questions will require answers. By making a Will, you can answer these questions before they arise.
You decide: who will “wind up” your affairs. You decide: what will happen after your death. You decide: how your family and friends will benefit.

Without a Will, what should be your decisions, will be determined by legal rules which may not reflect your true wishes. It is all the more important for those who are; separated, divorced, parties to a Civil Partnership which has been dissolved and unmarried people to make wills as the law may not distribute your assets in accordance with your true wishes.

How do I make a Will?

In theory, anyone can make their own Will. In practice, this is to be discouraged as many complications may arise in what may seem the most straight forward of cases. Expensive mistakes can easily be made. There may be taxes to be paid after your death that you may not know about. Proper planning can ensure that your assets go to the people or the charities that you wish to benefit rather than into Government coffers. Mistakes can be avoided with the assistance of independent, impartial and professional advice.

This is where Sullivans come in: We are a niche law firm combining 50 years of practical experience to provide effective and efficient legal solutions. We will offer advice on how best you can answer the questions opposite. We will highlight to you any difficulties that may arise and suggest ways of addressing these.