A Will is a legal document which sets out your wishes for when you pass away. Your estate is then distributed in accordance with the terms of your Will. Our expert lawyers can advise on a simple Will, which appoints people to act as your executors, deals with the distribution of your personal possessions and then distributes your residual estate (what is left over). Your Will can be constructed in a way that best suits you, but also offers protection for your family and the future generations.
Executors & Trustees
A person named as an executor is responsible for notifying the third parties and organsations that you have passed away. You can appoint a loved one to act as your sole executor or have multiple people acting. Your Executors then take on the role of a Trustee, which has the responsibility to distribute your estate, in accordance with the terms of your Will. A person named as Executor and Trustee, can also be named as a beneficiary as benefit from your estate.
Funeral wishes
You have the option to include funeral wishes within your Will. You do not have to, however a Will is normally the first place that a loved one would look to determine these wishes. You can include a basic clause, confirming that you wish to be buried or cremated, or you can leave this up to your family to decide.
Personal Possessions
You can also specify within your Will who you want to pass your personal possessions to. A personal possession could perhaps be a painting, a wedding ring, a watch, or item of jewellery. If you have a specific item, that you want a certain individual to inherit, you can state this within your Will. If you do not, you can leave all of your personal possessions to your Executors and Trustees for them to distribute in accordance with any letter of wishes left at the date of your death.
Residual Estate
Your residual estate is what is left after your debts, funeral expenses and specific gifts have been paid out. A simple Will would leave your residual estate to either person, or a group or people; for example, to your surviving spouse or to your children. You can of course leave your residual estate to charity should you wish. You also have the option to include a trust structure within your Will, leaving your assets into trust for the benefit of a named individual or a group of individuals. Our expert lawyers would also draft your Will, so it accommodates a situation where your beneficiaries pass away before you.
Contact Us
Call our head office in Welling on 020 8301 0808 or contact us for a consultation.
