West London Solicitors

WILLS & PROBATE SOLICITOR IN WEST LONDON – FAQS

What is required for a legally valid will?

A legally valid will must be in writing and witnessed by two persons.

Who can act as a witness?

Anyone can act as a witness so long as they are fully sighted, not a beneficiary under the will (those who will inherit) and are mentally capable of understanding their role as a witness.

What should I include in my will?

Most wills include provisions as to what assets each person will inherit.  In some all cases, it is also important to appoint an executor.  If there are young children who will inherit, it is likely you will want to create a trust and appoint trustees so the assets can be held for the benefit of the children.  You can also state your preferences for your funeral (whether you would like to be buried or cremated) and whether you would like to be an organ donor.

How can I create a will?

There are three options: by yourself using a ‘DIY’ will kit, through a solicitor of a professional will writer.  In any case, it is advisable to seek professional advice as there is a good chance that one of the key legal requirements will be missed out, making the will invalid and therefore worthless.  You may also miss out on ways to save taxes and distribute your assets through trust mechanisms.

What happens if I don’t make a will?

If you don’t make a will, when you die, you will die ‘intestate’ and government laws will decide how your assets are divided up between your loved ones, often in ways you would not expect.  For this reason, it is advisable to write a will.

What is an executor?

An executor is a person who is appointed to carry out a person’s wishes in accordance with their will.  Usually, the bulk of their role will involve distributing assets to the right persons and ensuring financial matters are settled. In addition, executors will:

• Make funeral arrangements
• Complete tax returns
• Pay off the deceased’s debts using the assets of the estate
• Prepare formal accounts
• Obtain formal valuations of the deceased’s assets
• Obtain Grants of Probate
• Pay inheritance taxes using the assets of the estate

Who can act as an executor?

In most cases, an executor will be a trusted friend or family member.  The appointed person must also be at least 18 years old and mentally capable.

Solicitors and accountants can also act as executors and this may be appropriate where you do not know anyone who is capable of taking care of fairly complex financial affairs.

Can an executor benefit under a will?

Yes they can.  It is commonly believed executors are not entitled to inherit under a will, but there is nothing in the law to stop them from doing so.

What is probate?

Probate is the process of administering a deceased person’s estate whether or not there is a will.  Probate is usually used where the assets of the estate are worth £5,000 or more.  However, in order for funds to be released some organisations will require a Grant of Probate or Letters of Administration irrespective of the size of the estate.