Rutherfords LLP & Azets Seminar

Rutherfords LLP collaborated with Azets to provide a breakfast seminar presentation at Drayton Park Golf Club on Thursday 2 May 2024.

Probate Lawyer Rebecca Taylor gave a presentation on the topic “why you should make a will?” and looked at some cautionary examples of the difficulties and complications that can arise on intestacy.

Interesting statistics

Over half of adults in the UK do not have a valid will. Surprising isn`t it?

Without a will your estate is administered as an intestacy. This means that after payment of liabilities (including tax and costs), your assets are distributed in a particular order.

If you are married without children, the whole of your estate will pass to the surviving spouse. If married with children, a statutory legacy of £322,000, personal possessions, and half of the residue will pass to your spouse. The remaining half share of residue will pass to your children equally.

If you have no spouse or children then the order of priority is the estate passes to surviving parents, then to whole blood siblings or their issue, then siblings of the half blood or their issue, then to grandparents, then aunts and uncles of the whole blood or their issue, and then aunts and uncles of the half blood or their issue.

If there is no one in the above categories your estate will pass to the Crown.

There are some surprising omissions from this statutory entitlement. An unmarried partner is not provided for. Also, your friends and your favourite charities receive nothing.

Making a will

This is a straightforward process and the experienced lawyers at Rutherfords LLP can advise and prepare a competitive bespoke will reflecting your needs and wishes.

If you have children, consider the age they should inherit. Is 18 too young? Should a guardian be appointed in your will?

Is there a need to protect assets for beneficiaries? We can consider if a trust is needed to protect the family home or other assets.

Decide who should be appointed as your executor with the responsibility to administer your estate.

As soon as you own assets and/or have children you should consider making a will.

For further details and costs please follow this link https://www.rutherfordslegal.com/wills-probate/

Call Rutherfords LLP on 01827 31141 to make an appointment or email [email protected]

Contact us on: 01827 311 411 or [email protected]