The current coronavirus pandemic has seen an increase in people wanting to get their affairs in order. As the seriousness of the situation has become apparent, we have received a large number of enquiries about wills.
A Will is an important document as it is the only certain way of setting out how you would like your assets to be distributed on your death. If a person dies without a will the rules of intestacy will apply to their estate. One common assumption is that people who are married do not need a Will and that everything will pass to their spouse. However, this is not always the case. The spouse will inherit the first £270,000.00 and anything above that amount will be divided so that the spouse receives half and the other half is divided equally between the children.
Another issue that can cause problems is that when a person gets married their Will is automatically revoked. Unless a new Will is put in place the intestacy rules will apply, which may not be in accordance with that person’s wishes. We always recommend that when any big event happens in a person’s life they review their will to ensure that it still accurately represents their wishes.
It is not just the older generation that needs a Will, parents of young children may want to appoint guardians and, also, appoint trustees to manage their estate for younger beneficiaries.
It is important not to leave your Will to the last minute. You need time to consider how you would like your estate to be distributed and, also, who you would like to appoint as your executors as they will be responsible for carrying out those wishes.
With the government guidelines in place regarding social distancing, we appreciate that face to face meetings can be difficult. Here at Beviss & Beckingsale LLP we are continuing to advise people on their options regarding their Will using telephone and video calls.
When it comes to signing your will, you will need two independent witnesses. We can advise you on how to deal with this in the current climate, using friends or neighbours where possible. If you are unable to arrange your own witnesses then we can make an appointment to witness your will, while respecting the social distancing rules.
If you would like an initial discussion, please contact us on 01297 630700 and you will be directed to a member of our wills team.