Wills and Probate

A Will is a legal document that sets out a person’s wishes regarding how their estate, including movable and immovable property, money etc., should be dealt with after they die. It particularly includes who should manage the estate in the interim and who should ultimately benefit from it.

Estate is the sum of all your assets, held in your sole name and the value of your share of assets held as tenants in common). It usually includes property, money held in bank accounts, investments, art, household items etc. Your estate does not include any assets or money held in joint names with another person as these pass automatically to the survivor.

The majority of adults die without leaving a will and when this happens, they are not in a position to control how their estate will be distributed and who will manage or administer the same. Making a will ensures you do not have to take chances with the law deciding who gets what. So, having a Will is indeed helpful, more so if you are co-habiting, want to leave something particular to a friend/ relative/ grandchild, have businesses etc. If you think you do not need a Will because you are married and do not have any children outside of that marriage, you may still need one if you would like to control what happens to your money after your death. Irrespective, it would be best to take advice on whether you should make a Will or not.

If you have properties in different parts of the world, the case is slightly more complicated that having properties in the UK alone. The reason for this is there are different laws in different countries that affect the formation and validity of wills. So, in case you have assets in England and abroad, it would be best to seek specialist advice.

This is not a simple question to answer and depends completely on the countries involved, your residential and domicile status, your assets etc. You could have one will, or two different wills, one in each country. It would be best to consult experts before you decided what to do.

If you currently are a single parent with children under the age of 18 years, you can appoint a Guardian to look after your children in your Will. whilst they are under 18 years old. You can make your children the beneficiaries of your Estate and include provisions on when they can have access to their inheritance, at 18, 21, 25 or when they get married. Until that point their inheritance will be managed by Trustees, who can also be appointed by you in the Will itself. This matter is slightly complex, and it would be ion your family’s best interest if you get specialist advice to explore the option that works best for you.

Yes, anyone who is above 18 years of age and has the mental/ testamentary capacity can make a Will if they so wish. However, there are certain requirements and formalities that need to be followed. If you wish to make your own Will, we advise you to give us a call first and we will be happy to give you telephone advice.

You can store your own Will someplace place safe. Alternatively, we can store your Will with us or with the Probate Registry.

We advise that you tell your immediate family/ friends/ executor about the existence of your Will and where it is stored because they will need the original after your death. The executor then proceeds to get information and gather your Estate, pay inheritance tax, get a grant of probate and then finally distribute it to the beneficiaries named in your will after paying off your debts and liabilities.

An executor is the person named in the Will to carry out the deceased person’s wishes. An executor takes responsibility for dealing with the deceased person’s estate- which includes notifying people about the death, funeral arrangements, payment of bills/ debts, paying inheritance tax, obtaining probate and distributing money or assets to beneficiaries.

Any person who is above the age of 18 years can be an executor. However, it is advisable that you chose an executor carefully. It is suggested that it be someone you trust and as well as someone who you believe has the right skill set to manage your estate. It is a task that carries personal liability and requires significant time. Therefore, if you have a rather sizeable estate, you many want to consider appointing professionals for the job.

Yes, this is possible, and we can act as executors of your Will. To be named in your Will, there is no cost involved. If after you pass away, we act as executors, we will agree the fees with beneficiaries of your estate and our fee will be based on the value and complexity of your Estate. We recommend appointing us or any professionals, if your estate is rather sizeable and you have family who is busy and cannot deal with additional financial responsibilities.

Yes, your executor can be a beneficiary or even the sole beneficiary of your Estate. However, they must be 18 years old or above and willing to accept the responsibility of acting as an Executor.

A beneficiary of your Will cannot be a witness while you sign the Will, and neither can their spouse or civil partner be a witness. If this happens, they will lose their inheritance.

Most executors will need to get a grant of probate to administer/ deal with the estate of a deceased. However, there are exceptions to this. Small estates with value up to £5000 can be transferred without going through the probate process. However, it is important to understand that the executor is still responsible for inheritance tax and well as distribution and there is personal liability.

One can apply for a probate without a solicitor. However, some scenarios can be tricky, and it would be best to speak with a solicitor before deciding the best course of action. A specialist can help you with dealing with complex estates that include business, foreign assets etc., if there are trusts or lifetime interests involve.

Usually, estates worth over £325,000 are subject to Inheritance Tax at the rate of 40 percent. The value is reached after all debts and liabilities have been paid out. However, there are certain exceptions like the spousal nil rate, i.e., if your entire estate is transferred to your spouse there is no inheritance tax payable. Similarly, if more than 10 percent of your estate is given to charity, inheritance tax is reduced.

This is a difficult question to answer and the method usually depends on the value of your estate and what you are looking for. There are several ways to reduce inheritance tax like making gifts to friends, family or charities and using trusts. It is worth getting comprehensive advice on this to understand the pros and cons of each option.

The most common methods of doing this are through a deed of variation or by setting up and transferring assets to a trust. It would be best to speak to probate or trust solicitors for this.

This is a complicated issue, but yes you can do this. After the transfer of the house, you will need to pay a full market rent for living there. However, there could be other complications. For example, if you give your house to your child and they get divorced, it is likely that it would form a part of their assets that they might have to split with their ex-spouse. There might be other tax implications as well, so it would be best to consult experts before you take any steps regarding your home.

Yes, a will can be challenged for the following reasons:
• It was not executed as required by law
• The person making the will did not have the mental/ testamentary capacity to do so
• The person making the will did not know or approve the contents of the will
• The will was made under undue force/ influence/ coercion

These reasons are a few among many and in case you wish to challenge a will, it would be best to seek expert advice.

Here it is important to understand that even if the Grant of Probate has already been issued, certain claims can be brought against the estate within six months.

A person writing a Will, can avoid any issues that might arise after his death by talking to their family about their Will. This is important if you are excluding a family member from inheriting some/ all of your estate. Alternatively, a person can also write a letter to their Executor explaining why they have distributed assets in a certain way or providing reasons why a family member was given more, and one member given less or excluded.

Being an executor can be burdensome and time consuming. Duties must be carried out properly, or the executor might face HMRC penalties and claims by beneficiaries. Being an executor involves personal liability. Therefore, it is best that this role is left to professionals, especially if the estate is a sizeable one and its administration involves a certain amount of expertise and knowledge.