Frequently Asked Questions
Why should I make a Will?
Dying intestate under English law means that you have not made a valid Will that can be used after your death. If this occurs, it means obtaining Letters of Administration and appointing your administrators which can take months and in some cases years to sort out. This could well mean that, after your death, your surviving spouse has a period without access to the money that is part of your estate and this can last for some considerable time.
What will happen if I don’t make a Will?
If you don't make a Will, your assets will be distributed by the authorities according to the rules of intestacy which were put in place many years ago. Needless to say, they don't bear much relation to modern personal and family situations and the law decides who benefits from your estate, not you.
How often should I review my Will?
You should review your Will at least every three to five years or sooner if your personal circumstances change. For example additions to or deaths in your family or financial changes which affect your Inheritance Tax liability.
Does marriage, civil partnership or divorce affect my Will?
If you marry or enter into a civil partnership after making a Will, the Will is automatically revoked unless the Will expressly states that it is made in contemplation of the marriage or civil partnership. If you get divorced after making a Will, the Will remains valid but any gifts or appointment of your former spouse will fail.
Where should I keep my Will?
There is no legal requirement determining where a Will should be stored but you should inform your executors where it is. We provide a secure Will storage service at minimal cost. It is not advisable to keep a Will in a safety deposit box because after your death your executors will not be able to open that box without obtaining a Court Order.
What is a Mirror Will?
A Mirror Will is prepared when a couple want to make almost identical Wills, for example leaving everything to each other respectively and thereafter to the children, or where there are no children, to a named beneficiary. They must be individual Wills, so in effect they are separate legal documents with similar content. The respective partners usually become both sole beneficiary and sole executor to each other.
What is an Executor?
Executors are responsible for dealing with your estate in accordance with your instructions. They will collect in your assets, pay all your debts including any inheritance tax, deal with any specific legacies that you have left and then distribute the remainder of your estate in accordance with your wishes.
How many Executors can I choose?
You can have as many Executors as you like, but the Law only allows a maximum of four to act at the same time.
What is a Living Will?
A Living Will provides the opportunity to document your wishes with respect to end of life medical treatment in a form that is accepted by both the BMA and RCN.
What is an Enduring Power of Attorney?
An EPA is a legal process which enables you to give the legal right to one or more people, your attorneys, to manage your financial affairs and property. This is important if you become incapable of managing your own affairs, typically due to ill health.
