Here at Mark Reynolds Solicitors, we believe that the importance of a will is often overlooked. Around 70% of people die without leaving a will behind, with the main reason being that they simply didn’t have enough time to sort it all out. Our expert Wills & Probate Solicitors situated in Liverpool, Leigh, Runcorn & Warrington aim to ensure a straightforward transfer of wealth from one generation to the next. Your will not only allows you to ensure that your affairs are in order but also makes provision for your family, friends and loved ones.
What is a Will?
Put simply, a will is a legal document that states how you want your wealth, estate or belongings to be distributed after you pass away. It also states what sources will be used to pay off any estate taxes and debts that may be due, as well as naming an ‘executor’ who will be the person responsible for the settlement of your wealth and belongings.
Wills are the most effective means of passing on your wealth and possessions to your family and our solicitors can advise you on all aspects of will writing in a friendly and understanding manner. We also have specialists that deal with the estates and wealth of the deceased if they haven’t left a will, so if you have a loved one that has passed away without writing a will we can advise on you what steps to take next, such as applying for a Grant of Probate.
Why do I need a Will?
Without a will your friends and family may have issues retaining your money, property and possessions. This is due to there being rules on how your belongings are distributed once you pass away. Unmarried partners and those who haven’t registered a civil partnership cannot inherit from each other unless there is a will, so if one unexpectedly passes away there could be serious financial implications for the other partner who will be unable to inherit their money and possessions. If you have children, a will would need to be made in order to make arrangements for them if you were to pass away. This would mean you have peace of mind knowing your children would be going to the guardian of your choice.
What is Probate?
Probate is the term commonly applied to applying for the right to deal with a deceased person’s affairs, sometimes called ‘administering the estate’. When a deceased person leaves a will naming who they want to deal with their wealth and property, these named individuals become executors. They then have to apply for a ‘grant of probate’ from a section of the court known as the probate registry. This legal document effectively confirms that the executor named has the authority to deal with the deceased person’s assets including money, property and belongings.
If the deceased person doesn’t leave a will, then a close relative can apply to the probate registry to deal with the estate. Without a will they would have to apply for a ‘grant of letters and administration’. If this is successful they are then known as the administrators of the estate. Like the grant of probate, the grant of letters is a legal document which states the administrator’s authority to deal with the deceased person’s assets. Though you can apply for this grant a possible outcome is that you may be declined as an administrator, leaving you without control of your family members assets.
This is why Mark Reynolds recommends writing a will for peace of mind. Our solicitors in Liverpool, Leigh, Runcorn & Warrington have considerable experience in Powers of Attorney for when clients desire to have their financial affairs appointed to a third party, as well as advising clients on what steps can be taken to deal with the financial affairs of family members that are no longer mentally capable of dealing with such affairs due to age or illness.
Perhaps now you are wondering why you haven’t got around to arranging your will? Get in contact with Mark Reynolds Solicitors today and our Will & Probate experts will work with you and your family to ensure that your financial affairs are in order, and for you to achieve peace of mind knowing our professional solicitors in Liverpool, Leigh, Runcorn & Warrington have your wishes permanently recorded and understood for the future.
Contact Mark Reynolds Solicitors
Basic Single Will £130 plus VAT
Basic Mirror will £250 plus VAT
Will including life interest trust £300 plus VAT
Severance of Tenancy £100 plus VAT
Lasting Powers of Attorney £400 plus VAT
Double Lasting Powers of Attorney £600 plus VAT
To speak to one of our Wills & Probate solicitors in our offices situated in Warrington, Runcorn, Liverpool or Leigh, please call us on 0800 002 9577 for immediate assistance. Alternatively, complete our online enquiry form in the red box on the right or by clicking here to go through to our contact page.