Wills Lawyers Scotland
Whilst many people don’t want to think about what will happen after they pass away, it is essential that everyone considers making a will. Making a will is the best way to ensure that your assets are distributed as you would wish, and to ensure that your loved ones are provided for when you are no longer there. If you fail to make a properly drafted will, the choice of who will inherit from your estate is taken out of your hands and your estate will be distributed in line with the laws of intestacy, which may not reflect your final wishes. Drafting a will is not as simple as you would expect, and only a skilful, specialist wills lawyer can ensure your property is distributed in accordance with your wishes.
Why make a will?
Making a will isn’t simply deciding who gets what, it can also be a useful tool for more elaborate estate planning. In a Will, you decide when a person should inherit your estate, what to bequeath and to whom it should go.
Further to this, if you make a Will you can nominate your own 'executor', in other words, the person you would trust to ingather and distribute your estate in terms of your wishes. If you do not have a Will, the Courts would appoint an executor, so the choice of who to appoint would be out of your hands.
On the financial side, you may be interested to know that a well planned and drafted Will could reduce your liability to Inheritance Tax (IHT) on death, producing a significant saving in your IHT liability. It makes good financial sense to make plans to reduce the amount you pay back to the Government when you pass away and a will is a useful tool for doing so.
Making a will, therefore, leaves you the peace of mind to decide for yourself what should happen to your money and property. If you've not yet planned for the future, there's no time like the present.
What about protecting my home and care home planning?
One of the most common questions we’re asked by clients is how can we protect our house if we ever need to go into a care home?
This is usually followed by comments like someone told us you can transfer your house to your kids or put it in a trust, and as long as you don’t go into a home before seven years pass by, the council won’t be able to force you to sell the house, and then that we’ve worked all our days and don’t want the house basically taken from our kids.
Does this sound familiar? Is it something you’ve been thinking or worrying about?
We’ve written a simple guide to help you make an informed decision about your house and your care home planning. There’s a lot of misinformation being shared around this complex subject, and we would recommend that you pour over this and come back to us with any questions before making any final decisions.
Wills Lawyers in Helensburgh and Dumbarton, Scotland
You don’t have to go into the city for a lawyer or estate or letting agent. We are as efficient, experienced and fully IT modernize as well as being based in your local area. All of our lawyers are committed to client satisfaction and have unparalleled knowledge of the local court/property and letting market, without attracting the very high fees of city-based lawyers.
We also offer packages tailored to your needs, allowing you to buy, sell and let your home guided by our professionals from start to finish. Allowing you to effectively plan for your future, and the future of your loved ones with our Power of Attorney, Wills, or Executry packages, guided by or friendly and empathetic team. Contact us today on 01436 672212 or 01389 762266 and let us assist you in planning your estate.