Contact us: Phone - 01376 346 023 Text - 07966 418 719 email: richard@WATPractice.co.uk
Q&A Helpful Info
FAQ and Helpful Links
Frequently Asked Questions:
Below are the typical questions clients have asked over the years when enquiring about our services:
- Do I need a Will?
- If you are 18 or over and you have assets in the UK or children, then making a Will is a good idea but not a legal requirement. Many people think that their partner will automatically inherit should they die but that is not always the case. Having a Will in place is your last say, should you pass away without a Will you have no last say at all and this could cause challenges for your loved ones at a very difficult time for them.
- What happens if I die without a Will?
- The Laws of intestacy will decide who inherits what of your estate. In the main this depends upon the size of your estate and the complexity of your family tree. Generally your married spouse and/or children will inherit in the main. Other relatives or the state could also receive a share.
- Do I need a solicitor to write my Will?
- No, Not all solicitors are geared up for Will writing and may not consider all possibilities when writing your Will. You can buy a DIY template in shops however we strongly advise against this. Using a Will writing professional with a good reputation and many years of experience in drafting both Wills and Trusts is what we would recommend. You only need to writing it once, so get it done properly by a professional who deals with Wills and Trusts on a daily basis.
- Do I need an LPA?
- Every adult should put an LPA in place, In fact there are two. One for your finances and one for your health and well being. Anyone at any age can find themselves incapacitated for a short or long period of time and in today's world, not even your Spouse can access your bank in an emergency or make some medical choices on your behalf. This is even more of a challenge if you live as partners or if you are single!
- How much does the service cost?
- Its free to have an initial consultation with us and at that meeting we can advise of the cost once we know what is needed. Our services and the Will we draft vary in price and this is why we give a free consultation with no pressure to move forward. Your Will writer can give you the cost once they know what needs doing from the discussion at your home. To give you an idea for budgeting, we draft Wills from £99 and offer Trust services that can cost up to £1,000. LPA's are £149 each and there is also a fee required to The Office of the Public Guardian for registering it.
- How long will it take?
- A typical meeting lasts between 40 and 60 minutes. The Will drafting itself takes around 5 days to produce your documents ready for checking.
- What if I go a head and change my mind?
- We offer a 5 days change your mind policy when you use our service. So if you decide you do not wish to proceed that is fine, we will refund your money no question. Although this is offered as part of our client care, no one has ever used it.
- What information do you need when you visit?
- Unlike a Financial Adviser we will not need detailed information on your finances etc however as we perform an IHT calculation. Having a basic understanding of what you own and what you owe is helpful. You may want to collate the full names and addresses of individuals who will be named in your Will or LPA's.
Helpful Links
If you require some detailed information in regards to Intestacy rules, IHT or probate, then why not try one of our links below, you may need to cut and paste the link into your browser on some devices.
How the rules of intestacy work for your situation?
https://www.gov.uk/inherits-someone-dies-without-will
My loved one has passed away, what do I need to do?
https://www.ageuk.org.uk/information-advice/money-legal/legal-issues/what-to-do-when-someone-dies/
https://www.which.co.uk/later-life-care/end-of-life/what-to-do-when-someone-dies?gclid=EAIaIQobChMIzeOw77vo4AIVy53tCh1_nwBqEAAYASAAEgKDa_D_BwE
What are the Inheritance Tax thresholds?
https://www.gov.uk/inheritance-tax
Do I need to go through the Probate process when a loved one dies?
https://www.citizensadvice.org.uk/family/death-and-wills/dealing-with-the-financial-affairs-of-someone-who-has-died/