PLEASE NOTE: Information in this article is correct at the time of publication, please contact DFA Law for current advice on older articles.
It is a common misconception that following your death, your assets will pass automatically to your nearest and dearest. However, this may not necessarily be the case.
If a person dies intestate (without making a will) the "Rules of Intestacy" will apply and it will be the general law that governs who administers your estate, and who can benefit from it. This may mean that some of your relatives, friends, favoured charities and even pets, actually receive nothing. This can make what is already an emotional time for your family even more traumatic and stressful.
The key advantages of making a will are that you can choose who administers your estate (your executors) and who inherits your worldly goods. A will also ensures that any young or disabled relatives are properly looked after. A will can also be a tool to protect hard-earned savings from the tax man and can it ensure that they are not eaten up by care fees.
A will is cheaper than you might think. A simple will for a single person should start in the region of £100 plus VAT, and for a couple who want simple mirror wills, in the region of £160 plus VAT. Most solicitors will agree a fixed fee, and some may also provide secure storage for your will free of charge.
Whilst making a will is one of the most important things that you will do in your lifetime, with expert advice it can be a simple and relaxed experience. DFA Law’s solicitors have been looking after Northamptonshire families, and helping them plan for the future, for over 170 years. If you have not already made a will, or if your current will is over 5 years old, our Wills and Estate Planning team is ready to help.